Willis Group Holdings plc in London has named Tim Wright as chief executive officer of Willis International, the company’s business unit serving all of Willis’ retail clients around the globe outside North America, the United Kingdom and Ireland.
The company said David Margrett, currently CEO of Willis International, is leaving the firm to pursue other interests. Margrett was just named CEO of Willis International in April. He had been with Willis since 2004 in other positions.
Sarah Turvill, currently chairman of Willis International, has led the business unit over the past 10 years and will remain in that post, working with Wright in his new role.
Willis International comprises 5,000 associates in more than 100 offices in over 40 countries in Europe, Middle East, Latin America, Asia Pacific and Africa.
Wright, 49, joined Willis in 2008 as the group chief operating officer. He is a member of the Willis Executive Committee and worked with Chairman and CEO Joe Plumeri, Group President Grahame Millwater and the leaders of each of the company’s business units to set and execute strategy, drive growth and streamline operations.
Wright came to Willis with over 20 years of international experience in the insurance and financial services industries. Prior to joining Willis, Wright led the financial services practice of Bain & Co. in London. Before joining Bain, he started and ran an insurance software company based in New York and London, and before that was UK managing partner of Booz Allen & Hamilton as well as the leader of that firm’s insurance practice globally.
During the course of his career, Wright has lived or worked in many of the regions where Willis International operates, including Continental Europe, the Middle East, Asia and Latin America.
Wright’s duties as COO will be assumed by Plumeri and Millwater.
Willis also announced today the departure of Brendan McManus, the CEO of Willis Limited, who until recently had served as CEO of Willis United Kingdom and Ireland. On an interim basis, Group President Grahame Millwater will be overseeing that business unit until a successor is named. A new CEO of Willis Limited will be named for FSA consideration in the coming weeks.
Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 17,000 employees.
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