Former Marsh exec Tom Orrico jumps to Lockton

Tom Orrico

Lockton Cos. LLC on Friday said longtime Marsh LLC executive Tom Orrico is joining the brokerage as senior vice president, managing director of financial institutions, effective Oct. 14.

Mr. Orrico will be based in New York and report to Peter Clune, Lockton’s U.S. president and chief operating officer, Lockton said in a statement.

In this newly created position, Mr. Orrico will lead Lockton’s financial institutions business to develop a vertical strategy for asset managers, insurers, investment banks, mutual funds, private equity, security broker-dealers and other financial institutions, Lockton said.

A 28-year industry veteran, Mr. Orrico previously built and led Marsh’s financial institutions practice, where he specialized in directors and officers liability, professional liability, employment practices liability, cyber liability/network security and crime coverages for a range of institutions.

Mr. Orrico is a recent recipient of the 2019 Business Insurance Innovation Awards for a fintech product.