Aon mulls WTW takeover plans
Aon's remaining business unit brands Aon Risk Solutions and Aon Benfield are to be retired as the broker works on increased integration of its various units.
Eric Andersen, chief executive officer (CEO) of Aon Benfield, and Michael O'Connor, CEO of Aon Risk Solutions, have been appointed co-presidents of the firm, effective immediately.
Anderson and O’Connor will create and co-lead an integrated global operating committee. Aon said that these moves are designed to increase the rate of innovation across the firm and make it easier for colleagues to work together to bring the best of Aon to clients.
Aon has moved to a single P&L structure, which it said is part of an ongoing effort to increase colleague connectivity and accelerate reinvestment in innovation that serves clients. That effort is overseen by Aon's global CFO Christa Davies, whose contract was also recently extended by the Board of Directors until April of 2023.
“Aon's evolution into a leading global professional services firm has been driven by the tireless efforts of colleagues to work across our portfolio to deliver the best advice and solutions to clients,” said Aon CEO Greg Case. “This announcement recognises those efforts and takes steps to remove structural barriers so that we can innovate new sources of value and realise the full potential of our firm.
“The appointment of Mike and Eric as co-presidents reflects the enormous contributions that they have made to the ongoing success of our firm. Both have proven track records and have played critical leadership roles across Aon, ensuring that they understand the breadth of our capabilities and how to bring them together to best serve our clients.”
Case concluded, “By almost any measure, Aon has never been stronger or better positioned in the marketplace. That strength comes from the depth of our senior leadership team. I'm grateful to them for their support of these decisions and for agreeing to take on additional responsibilities. Our other exceptional solution line leaders, Cary Grace, CEO of retirement solutions, and John Zern, CEO of health solutions, as well as our chief operations officer, John Bruno, will each add substantially to their remit.”
According to the company Grace will now be responsible for global M&A integration in addition to her global leadership of retirement solutions and Zern will add to his global health solutions responsibilities by also becoming CEO of North America for commercial risk solutions.
In addition chief operations officer John Bruno will take on the additional role of CEO, data & analytic services, and work closely with Case and CFO Christa Davies, to enhance Aon’s current offerings and accelerate the commercialisation of new data-driven, content solutions.
Aon, Benfield, Risk Solutions, streamline, retirement