Casserley to replace Plumeri at Willis

Willis Group Holdings has announced that Dominic Casserley will replace Joe Plumeri (pictured) as chief executive when he steps down at the start of 2013.

Casserley, who will be based in Willis’ New York office, is currently a senior partner at McKinsey & Company, where he has been since 1983.

Willis Global chairman and chief executive Steve Hearn, who was widely tipped for the top job, will move up to deputy chief executive.

Plumeri, 69, who joined Willis in October 2000, led the company back to public ownership and drove its global expansion during his 12-year tenure. He will stay on as non-executive chairman through to July 2013.

He said: “I am proud beyond words of our company’s achievements seizing on opportunities and confronting challenges spanning a dozen years. But I’m equally excited about the path ahead for Willis under the leadership of Dominic Casserley and Steve Hearn and our outstanding team of leaders and 17,000 associates around the world.”

Willis’ presiding independent director and Allen & Co LLC managing director Bill Bradley said: “The board of directors, which has now concluded a rigorous and thorough search for our next CEO, is thrilled to welcome Dominic Casserley to Willis to inaugurate the next great era for our company.

“We think Dominic will be an extraordinary leader for Willis, just as Joe Plumeri has been. Willis is indebted to Joe for his passionate stewardship of our firm spanning more than a decade in which Willis delivered unrivalled shareholder value among our peers.

“We are also grateful that Steve Hearn, a great broking industry leader within our own ranks, will step up as Dominic’s partner and deputy CEO to help bring Willis to the next level.”

Casserley’s 29-year career with the McKinsey & Company has included posts in the USA, Asia and Europe.

The 54-year-old led the firm’s Greater China practice and its UK and Ireland practice, and was a member of McKinsey’s Shareholder Council, the firm’s global board, since 1999, and served as chairman of the finance committee of the board for four years.

“I am honoured by the confidence the board has placed in me and look forward to working with Joe, Steve, Vic Krauze, Tim Wright and our accomplished management team to build on the foundation that Willis has established in every corner of the world,” Casserley said.

Hearn, 46, joined Willis as chairman and chief executive of Glencairn Ltd, the third-party wholesale brokerage business that Willis acquired through its $2.1bn acquisition of Hilb Rogal & Hobbs (HRH) in 2008. He was appointed chief executive of Willis Re in February 2011.

In January 2012, Hearn he became chairman and chief executive of Willis Global. He will continue in that role in addition to his deputy chief executive post.

“I am looking forward tremendously to working with Dominic to build on the extraordinary foundation that Joe has put in place, and am personally grateful for the opportunities that Joe has given me and so many other people at this fine company,” he said.