Guy Carpenter restructures, reshuffles leadership post JLT deal

Reinsurance broker Guy Carpenter & Company has unveiled a new global capital solutions group and several key leadership appointments, which will become effective after the closing of the JLT acquisition by its parent Marsh & McLennan Companies (MMC).

MMC is in the process of acquiring re/insurance broker Jardine Lloyd Thompson Group (JLT) for $6.4 billion.

Guy Carpenter (GC) is creating a new global capital solutions group under the leadership of vice chairman David Priebe, who will work closely with GC’s analytics, strategic advisory and broking teams. The group will be made up of two components - global capital solutions and GC Securities, both reporting to Priebe.

Ed Hochberg, CEO of North America at JLT Re, will become head of the global capital solutions practice, advising clients on capital, reinsurance optimisation and risk transfer solutions. Hochberg will also support the overall integration of JLT Re’s North America business with Guy Carpenter.

Keith Harrison, CEO of UK & Europe at JLT Re, will become head of London North America for GC. He will lead the London division of GC’s North America business, reporting to CEO of GC North America Tim Gardner.

Harrison will also lead the formation of a new London-based operation to service and source business non-affiliated with Guy Carpenter, which will be overseen by Peter Hearn, president and CEO of Guy Carpenter. Harrison will be responsible for new business production, client management, and delivering advisory, growth and placement expertise, as well as access to the London market for North American clients. He will join the Guy Carpenter executive committee, as well as support the overall integration of JLT Re’s UK and European businesses with Guy Carpenter.

Furthermore, Simon Keeley, currently head of London North America for GC, and Mark Higgins, currently head of London North America for JLT Re, will both report to Harrison and form part of the senior leadership team that will integrate the businesses and position the combined entity for continued growth.

“The combination of Guy Carpenter and JLT Re’s capabilities and expertise will create an exciting opportunity to deliver enhanced value to clients across the globe through a structure that is intuitive and aligned with our strategic priorities,” said Hearn.

Guy Carpenter's international division will continue to be led by James Nash as CEO. Jeremy Fox, CEO of JLT Re Asia Pacific, will become chairman of GC Asia Pacific, reporting to Tony Gallagher, CEO of GC Asia Pacific. Fox will be responsible for servicing multinational clients in the region and producing new business.

In the specialties division, Kevin Fisher, currently CEO of GC Global Specialties, will become chairman of GC UK & Specialties. Additionally, James Boyce, currently deputy CEO Global Specialties and head of non-marine specialties at GC, will become CEO of Global Specialties. Boyce will report to Hearn and will join the Guy Carpenter executive committee.

Bradley Maltese, deputy CEO of UK & Europe at JLT Re, will become vice chairman of Global Specialties, reporting to Boyce. Maltese will also play a key role in executing the integration of the JLT Re Specialty practices with Guy Carpenter.

Richard Morgan, managing director, GC Global Specialties, will become head of non-marine specialties, reporting to Boyce.

Finally, David Flandro, global head of analytics at JLT Re, will become global head of economics and franchise risk advisory, reporting to Rob Bentley, CEO of GC Global Strategic Advisory. In this role, Flandro will oversee GC’s global thought leadership, business intelligence, ratings advisory and market intelligence units.

The move is part of the company's strategy to align and integrate the capabilities of both Guy Carpenter (GC) and JLT Re.

Marsh had already in November announced that it was combining the specialty teams of Marsh and Jardine Lloyd Thompson Group to create the Marsh-JLT Specialty unit which included a reorganisation of management positions.

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