Aon and Willis Towers Watson (WTW) have named the executive committee that will be effective upon the completion of the proposed combination.
In March 2020, Aon announced its intention to buy WTW in an all-stock transaction with an implied combined equity value of approximately $80 billion.
Following the completion of the proposed combination, Greg Case, CEO of Aon, and Christa Davies, as chief financial officer, will be joined by 23 leaders in forming the new Aon executive committee.
The new committee includes Eric Andersen as president; Alexis Faber, North America CEO; Eduardo Dávila Europe, the Middle East and Africa (EMEA), CEO; Julie Page, UK CEO; Luis Maurette, Latin America CEO; Alejandro Galizia, Latin America president and Anne Corona, Asia-Pacific CEO.
In addition, Julie Gebauer, CEO of health, wealth and career; Lambros Lambrou, CEO of commercial risk; Adam Garrard, president of commercial risk and CEO of global broking; Andy Marcell, CEO of reinsurance; James Kent, deputy CEO of reinsurance; Carlo Clavarino, chair of international; and Lori Goltermann, chief client officer.
Finally, Maggie Westdale, chief financial officer of business; Anne Pullum, chief innovation officer; Andy Weitz, chief marketing officer; Pam Rollins, internal communications; Darren Zeidel, general counsel; Julie Gebauer, head of strategy; Lisa Stevens, chief peoples officer; James Platt, chief operating officer; and Katherine Gehman, chief of staff.
In August 2020, shareholders of Aon and WTW approved all proposals necessary to complete their combination.
Both companies stated in the March 2020 announcement that they expected the transaction to close in H1 2021.
However, the European Commission (EC) opened an in-depth investigation in December 2020 to assess the proposed acquisition on WTW by Aon over concerns that the proposed transaction could significantly reduce competition in those markets.
The EC has until 10 May 2021, to make a decision.
The deal would see the combination of two of the world’s largest insurance brokers.
Commenting on Aon’s executive committee, Case says: "Aon and WTW have a unique opportunity to create a combined firm that will make an even greater difference in the global economy and provide unparalleled experiences for our clients and colleagues."
He notes: “All of the leaders we are announcing today are highly accomplished and true advocates of the one firm mindset that will be at the core of the new Aon.”
“We are confident that our combined firm, with this leadership team, will help us address the most pressing areas of client need and provide compelling new opportunities for our colleagues," Case adds.
John Haley, CEO of WTW, states: As we learned more about each other's organisations, it became clear that a fundamental driver of our success will be leaders who fully embrace a one firm mindset.”
“The willingness to put the needs of clients and the entire organisation ahead of their part of the business and any individual priorities will be the key to unlocking the full potential of the planned combination for the benefit of all our stakeholders,” Haley concludes.
