9. WTW made executive changes as it retooled
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Personnel moves at brokerages garnered much attention this year, in particular as Willis Towers Watson PLC moved to rebuild its leadership ranks.
Among the changes it announced were internal promotions of senior leaders.
In May WTW made changes to its North American corporate broking leadership, naming Steven Reiss to lead the Northeast region for corporate risk & broking, North America. Previously, he was corporate risk & broking head of Philadelphia. In his new role he succeeded Mark Rusas, who moved on to focus on leading the mergers and acquisitions practice within the unit.
The story about Mr. Reiss’ promotion was the ninth-most-read risk management-related story on Business Insurance’s website in 2022.
WTW lost a significant number of staff during the Aon PLC takeover saga that collapsed in 2021 but has since been rebuilding its leadership.
The brokerage made several high-profile hires this year, including a former credit and political risk insurance executive to head financial solutions, a former Lockton Cos. LLC executive in its natural resources group, a former Marsh LLC managing director to head casualty and a former Zurich Insurance Group Ltd. executive to head it French operations.
Carl Hess, who was named CEO of WTW last year, commented during the brokerage’s third-quarter earnings call that efforts to “retool our talent base” were proceeding.
