Privately-held insurance broker Lockton announced expanded leadership roles for Mike Hammond, Glenn Spencer and Neil Nimmo.
Spencer has been named chief operating officer of Lockton Inc. and president of Lockton Companies in the US. Spencer had previously been U.S. chief operating officer for Lockton.
Nimmo will transition to CEO of both Lockton Companies LLP, in the UK, and Lockton International Holdings Ltd, succeeding Hammond on May 1, 2016. He is currently deputy CEO for Lockton’s international operations.
Hammond has been appointed executive chairman of Lockton International Holdings Ltd, the operating business for all of Lockton’s businesses outside the U.S. In addition, Hammond will also work with the Lockton Inc. board to lead the company’s strategic planning process globally.
These three executives will work on Lockton’s continuing global expansion, reporting to Lockton Inc. President and CEO John Lumelleau.
Ten years ago, Lockton began a plan to become a global broker. Its revenues were $400 million, exclusively in the U.S. Today, the Kansas City-based broker says it has revenues of $1.24 billion with more than 25 percent from outside the U.S.
Spencer is a 10-year Lockton associate who has been the COO of Lockton’s U.S. business since 2010, overseeing revenue growth from $564 million to $925 million. He previously held executive roles at insurance brokers Palmer & Cay, Marsh, and Johnson & Higgins. He has also been risk manager at AOL. He is based in Lockton’s Kansas City office.
Nimmo joined Lockton in 2007 and has been a leader in Lockton’s UK and international operations during the past decade. He has
been a key leader in Lockton’s largest UK business, Risk Solutions, for the past eight years and has served as a founding partner on the board of Lockton Companies LLP. He has more than 30 years of experience, particularly in the professional and management liability fields. Before joining Lockton, he was a managing director at Marsh and worked at Johnson & Higgins in London. Nimmo will continue to be based in Lockton’s London operation.
Hammond has led Lockton’s operations outside the U.S. since the privately held broker bought the international business of Alexander Forbes in November 2006. Under his leadership, the company has developed Lockton operations around the world with major growth in Asia, Australia, Mexico, Brazil, MENA, and the UK. During this time, Lockton’s international operations have grown from $150 million in 2006 with 1,500 associates to revenues of $317 million with 2,100 associates in 2015. Hammond developed his career at Sedgwick where he held client and executive board positions for 23 years in both the UK and U.S. He was previously CEO of Marsh UK between 2000–2003 and a director of the Marsh Inc. board.
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