Aon names exec for new ventures group

Aon PLC named Brian Cochrane to be chief commercial officer of the broker’s new ventures group and has placed its intellectual property unit under the auspices of the group, Aon said in a statement Tuesday.

The new ventures group is a team of senior Aon executives, including CEO Greg Case, who oversee ‘high-impact’ new products, according to the Aon statement, adding the group was formed in fourth-quarter 2018.

Mr. Cochrane will be responsible for assessing the commercial feasibility of new products and collaborating with Aon's operating committee on newly developed capabilities for clients, the statement said.

Mr. Cochrane previously served as Aon's executive vice president and global leader of mergers and acquisitions and transaction solutions and will continue to oversee the unit as executive chairman, the statement said.

Aon has developed a set of consulting, valuation and risk transfer offerings to help clients identify and manage risks surrounding intellectual property, the statement said.

The intellectual property solutions team is led by CEO Lewis Lee, founder of 601West, the IP consulting business within his former law firm, and President Dennis Gaughan, who has 10 years with Aon's M&A and transactions solutions team, the statement said.

“This approach is enabling Aon to go 'bigger and faster,' driving growth-stage opportunities that have the potential to deliver meaningful value to clients,” Mr. Cochrane said in the statement.

Intellectual property coverage has been drawing more attention from the insurance sector.