Global insurance broker Aon has joined its two brands– Benfield and Risk Solutions– into one operational unit and named the chief executives of the two brands as co-presidents of the company.
Eric Andersen, CEO of Aon Benfield, and Michael O’Connor, CEO of Aon Risk Solutions, have been appointed co-presidents of the firm, effective immediately.
As co-presidents, O’Connor and Andersen will continue to report to Aon CEO Greg Case, whose contract was recently extended by the board of directors until April of 2023.
Aon said it is retiring the two unit brands into an integrated global operating committee, co-led by Andersen and O’Connor, in order to “increase the rate of innovation across the firm and make it easier for colleagues to work together to bring the best of Aon to clients.”
Aon had previously announced a single P&L structure, an effort that is being overseen by Aon’s global CFO Christa Davies, whose contract was also recently extended by the board of directors until April of 2023.
“Aon’s evolution into a leading global professional services firm has been driven by the tireless efforts of colleagues to work across our portfolio to deliver the best advice and solutions to clients,” said CEO Case. “This announcement recognizes those efforts and takes steps to remove structural barriers so that we can innovate new sources of value and realize the full potential of our firm.”
In related moves, Cary Grace, CEO of Retirement Solutions, and John Zern, CEO of Health Solutions, and Chief Operations Officer John Bruno will each assume new responsibilities.
Grace will now be responsible for Global M&A Integration in addition to her global leadership of Retirement Solutions.
Zern will add to his global Health Solutions responsibilities by also becoming CEO of North America for Commercial Risk Solutions.
Bruno will take on the additional role of CEO, Data & Analytic Services, and work closely CFO Christa Davies to accelerate data-driven, content solutions.
Andersen has served in a number of leadership positions throughout his 20-year career at Aon, most recently as CEO of Aon Benfield. Prior to that was CEO of Aon Risk Solutions Americas. Andersen first joined Aon in 1997 via the acquisition of Minet. Prior to that, Andersen also worked in London at Alexander Howden.
O’Connor joined Aon in 2008 and has served in various leadership roles at Aon, most recently as CEO of Aon Risk Solutions. Prior to that he was COO of Aon Risk Solutions and Aon Benfield. Prior to Aon, O’Connor was a partner at McKinsey & Co., where he served as a leader for the North American Financial Services practice and the North American Insurance practice.
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