Guy Carpenter announces appointments linked to JLT mergerPosted On: Jan. 17, 2019 9:50 AM CST
Guy Carpenter & Co. LLC on Thursday said it has formed a global capital solutions group and has made several new leadership appointments related to its parent company’s acquisition of Jardine Lloyd Thompson Group PLC.
The executive changes will become effective upon the close of the transaction between Marsh & McLennan Cos. Inc. and JLT, which remains subject to certain antitrust and financial regulatory approvals, reinsurance intermediary Guy Carpenter said in a statement.
David Priebe, vice chairman of Guy Carpenter, will lead the new group, according to the statement. It will be made up of two components, Global Capital Solutions and GC Securities, both reporting to Mr. Priebe.
Ed Hochberg, CEO of North America at JLT Re, will become head of the Global Capital Solutions practice, advising clients on capital, reinsurance optimization and risk transfer solutions. Mr. Hochberg will also support the overall integration of JLT Re’s North America business with Guy Carpenter, the statement said.
Shiv Kumar will continue as president of GC Securities, responsible for the insurance-linked securities and mergers and acquisitions practices.
At Guy Carpenter North America, Tim Gardner, CEO of GC North America, and John Trace, president of GC U.S., will continue in their leadership roles.
Keith Harrison, CEO of U.K. and Europe at JLT Re, will become head of London North America for GC and lead the London division of GC’s North America business, reporting to Tim Gardner.
Mr. Harrison will also lead the formation of a new London-based operation to service and source business nonaffiliated with Guy Carpenter, which will be overseen by Peter Hearn, president and CEO of Guy Carpenter.
Mr. Harrison will also join the Guy Carpenter executive committee, as well as support the overall integration of JLT Re’s U.K. and European businesses with Guy Carpenter.
Simon Keeley, head of London North America for GC, and Mark Higgins, head of London North America for JLT Re, will report to Mr. Harrison and form part of the senior leadership team that will integrate the businesses and position the combined entity for continued growth.
At Guy Carpenter International, James Nash will continue as CEO.
Jeremy Fox, CEO of JLT Re Asia Pacific, will become chairman of GC Asia Pacific, reporting to Tony Gallagher, CEO of GC Asia Pacific.
Mr. Fox will be responsible for servicing multinational clients in the region and producing new business, as well as working with Mr. Gallagher on designing and delivering key strategic priorities for the region.
At Guy Carpenter Specialties, Kevin Fisher, CEO of GC Global Specialties, will become chairman of GC U.K. & Specialties.
James Boyce, deputy CEO Global Specialties and head of nonmarine specialties at GC, will become CEO of Global Specialties and will join the Guy Carpenter executive committee, reporting to Mr. Hearn.
Bradley Maltese, deputy CEO of U.K. and Europe at JLT Re, will become vice chairman of Global Specialties, reporting to Mr. Boyce.
Richard Morgan, managing director, GC Global Specialties, will become head of nonmarine specialties, reporting to Mr. Boyce.
Mr. Fisher, Mr. Boyce, and Mr. Morgan’s appointments are effective immediately, the statement added.
At GC’s Global Strategic Advisory unit, David Flandro, global head of analytics at JLT Re, will become global head of economics and franchise risk advisory, reporting to Rob Bentley, CEO of GC Global Strategic Advisory. Mr. Flandro will oversee GC’s global thought leadership, business intelligence, ratings advisory and market intelligence units.
Vicky Carter, vice chair of GC Global Strategic Advisory, will continue in her leadership role.
“The combination of Guy Carpenter and JLT Re’s capabilities and expertise will create an exciting opportunity to deliver enhanced value to clients across the globe through a structure that is intuitive and aligned with our strategic priorities,” Mr. Hearn said in the statement.
All other Guy Carpenter executive committee members will continue in their current roles.
Thursday’s roster follows a similar announcement last month by Marsh LLC as it prepares to digest the acquisition of JLT.