Senior management appointments to lead the Group on its next phase of growth
28 August 2014
- Mark Drummond Brady appointed Deputy Group CEO
- Mike Reynolds appointed global CEO of JLT Towers Re; remains as Group Finance Director until successor appointed
- Martin Hiller appointed CEO of JLT EMEA and assumes responsibility for the Group's MGA activities and Thistle Insurance Services
Jardine Lloyd Thompson Group plc ("JLT") one of the world's leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services, is today announcing a series of senior management appointments, subject to obtaining the appropriate regulatory approvals, where required.
These appointments are being made in the context of today's announcement of the significant expansion of our US specialty capabilities and the merger of JLT Specialty Ltd. and Lloyd & Partners Ltd. They are therefore designed to align the Group's senior leadership with these changes and position us to drive the next phase in our growth.
Mark Drummond Brady is appointed Deputy Group CEO with immediate effect. This appointment reflects the increasing size, complexity and international reach of the Group and will provide additional leadership support at the top of the organisation to drive the continued delivery of our strategy.
In addition Mark will sit on the Executive Committee of our new US specialty operation and the Board of the merged JLT Specialty / Lloyd & Partners business. This will ensure strong alignment and collaboration between our US and London-based specialty operations and reflects the increasing importance of the US to the JLT Group following last year's acquisition of Towers Watson Re.
Mike Reynolds is appointed global CEO of JLT Towers Re with immediate effect. Ross Howard remains as Chairman with Alistair Lockhart-Smith continuing in his role as Deputy Chairman of the global business.
Mike is extremely well qualified to take on the role of global CEO of JLT Towers Re having held senior roles in a major reinsurance broker and global reinsurer and worked in London, the USA and Bermuda prior to joining JLT. Mike retains his position as Group Finance Director and as a PLC Board Director until the appointment of his successor.
Having played an instrumental role in the development of JLT's global reinsurance capabilities and in the acquisition of Towers Watson Re, Alastair Speare-Cole has decided to leave the organisation at the end of the year to pursue other interests. He will therefore be handing over his responsibilities to Mike Reynolds with immediate effect and will work with Mike to manage the transition between now and the year end.
Following today's announcement of our intention to merge JLT Specialty and Lloyd & Partners, Martin Hiller is appointed CEO of EMEA and assumes responsibility for our MGA businesses and Thistle Insurance Services.
Commenting on these appointments, Dominic Burke, JLT Group CEO said:
"Mark stepped in as Interim Group CEO during my recent brief absence and did an excellent job. His appointment as Deputy Group CEO will enable me to focus more of my time on delivering the Group's important strategic initiatives. I have the highest possible regard for Mark and am delighted that he has accepted this important new role.
Mike has the experience and the vision to take on the role of global CEO of JLT Towers Re. He has been a truly outstanding Group Finance Director over the past two years and his appointment reflects both the importance of JLT Towers Re to our growth strategy and the ambition that we have for that business. Mike played a central role in the acquisition of Towers Watson Re late last year and knows the business well. I am delighted that he has accepted this opportunity to lead such a significant and exciting part of the business.
Alastair has played a pivotal role in the development of JLT Towers Re. I would like to extend my appreciation for the significant contribution he has made over the last few years and I wish him well for the future.
Martin has completed nine successful years as CEO of JLT Specialty. His appointment reflects the strong potential that we see in our EMEA, MGA and Thistle UK businesses and my confidence in Martin's ability to build out their platforms and drive their growth.
Taken together with today's other announcements, these appointments mark an important and exciting step in JLT's long term development and growth prospects."
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+44 20 7309 8191
Group Finance Director
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Head of Group Corporate Communications
+44 20 7528 4933
Dania Saidam (UK)
+44 (0) 20 7404 5959
Beatriz Garcia (US)
+1 (212) 333 3810
Notes to Editors:
About Jardine Lloyd Thompson Group plc
Jardine Lloyd Thompson is one of the world's leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT's client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 40 territories with more than 9,500 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
This announcement may contain "forward looking statements" regarding the financial position, business strategy or plans for future operations of the Group. By their nature, forward looking statements involve risk and uncertainty, relating to facts that are beyond the company's ability to control, such as future market conditions. Any such statements in this announcement speak only as at the date of this announcement. The company does not assume any obligation to, and does not intend to, revise or update these forward looking statements except as required pursuant to applicable law.
Head of Group Investor Relations