Lockton looks to Marsh for innovation & alternative investment leader

Re/insurance broker  Lockton has hired Marsh’s alternative investment and product innovation expert for its financial services business unit.

Machua Millett (pictured) has joined  Lockton Financial Services (LFS) as chief innovation officer (CINO) and alternative investment practice leader.

Millett has deep technical expertise and complex claims experience. He has worked extensively with private equity and venture capital firms, hedge funds, SPACs and companies involved in traditional IPOs and reverse mergers. He joins  Lockton from Marsh, where he spent 12 years in a variety of leadership roles, most recently as chief innovation officer in the company’s FINPRO Practice.

At Marsh, Millett helped to create a number of innovative insurance coverage solutions, including products focused on wage and hour liability, regulatory investigation costs, intellectual property infringement liability, reputational risk, SPAC and de-SPAC transactions and more. Prior to his broking career, he spent a decade as an intellectual property, securities and general commercial litigator and insurance coverage defense lawyer at Skadden Arps, Bingham McCutchen and Edwards Angell Palmer & Dodge.

Based in Boston, Millett will report to Gary Phillips,  Lockton Financial Services leader for the Northeast.

“Private equity and venture capital firms along with companies involved in SPACs, deSPACs, and similar transactions need access to flexible insurance and risk management advice and guidance that can keep up with their rapidly evolving activities,” said Millett. “I’m delighted to join the dynamic and entrepreneurial team at  Lockton and look forward to continuing to deliver imaginative solutions to best serve our clients’ needs.”

Tim Ryan, chief operating officer,  Lockton Northeast, commented: “Mach’s addition reflects Lockton’s commitment to building the best broking team in the industry, and to investing in resources to best serve the private equity space. His experience and ingenuity will help us continue to innovate for the benefit of  Lockton clients across the country.”

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