Grahame Millwater to retire from Willis

LONDON—Grahame J. Millwater will retire from his post as president of Willis Group Holdings P.L.C. and chairman and CEO of Willis Global to pursue other interests, the broker announced Wednesday.

Senior Willis executives Steve Hearn and Tim Wright will assume his responsibilities at the group and business unit level effective in January.

Mr. Millwater will remain with Willis through 2012 and provide consulting support in 2013 to aid the transition.

He joined Willis as part of its graduate program in 1985 and was named president of Willis Group in 2008.