Millwater To Retire As Willis Group President

Willis Group Holdings said Grahame J. Millwater will retire next year "to pursue other interests."

Millwater, who is currently president of Willis Group Holdings and chairman and chief executive of Willis Global, will remain with the group in 2012 and will provide consulting support in 2013 "to ensure a smooth transition," said Willis. His responsibilities at the group and business unit level will be assumed in January by senior Willis executives Steve Hearn and Tim Wright.

Hearn, who was appointed CEO of Willis Re early this year after serving as head of Willis' London market wholesale businesses, will have the added roles of chairman and CEO of Willis Global as of Jan. 1, 2012. Willis Global includes Willis Re, Willis Global Specialties, Willis Faber & Dumas, Willis Global Solutions and Willis Global Placement. Hearn will also be a member of the Willis Group Operating Committee.

Wright, who was appointed CEO of Willis International in October 2011 after joining the company as group chief operating officer in 2008, as of Jan. 1 will also oversee Willis UK & Ireland in the retail business, which is headed by Dan Wilkinson.

Millwater joined Willis as part of its graduate program in 1985 and was appointed president of Willis Group in 2008. He served the company in many roles of increasing responsibility, said Willis.

In 2010, Willis named former American International Group Inc. CEO Martin J. Sullivan chairman and CEO of Willis Global Solutions, overseeing brokerage and risk management advisory services for Willis's multinational and global accounts. Based in New York, Sullivan reported to Willis Group Chairman and CEO Joe Plumeri (Best's News Service, Sept. 8, 2010).

(By David Pilla, international editor, BestWeek: [email protected])