1 September 2014News

Speare-Cole exits amid reshuffle at JLT Towers Re

The chief executive of JLT Towers Re, Alastair Speare-Cole, is resigning to “pursue other interests”, and will be replaced by group finance director Mike Reynolds at the end of the year.

Speare-Cole’s departure comes amid a number of senior management changes at the broker.

His successor, Mike Reynolds, will retain his existing position as group finance director and as a PLC board director until his new appointment.

Ross Howard will remain as chairman with Alistair Lockhart-Smith continuing in his role as deputy chairman of the global business.

Mark Drummond Brady has also been appointed deputy group CEO. JLT said 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 its strategy.

Brady will sit on the executive committee of the new US specialty operation and the board of the merged JLT Specialty/Lloyd & Partners business.

Martin Hiller has been appointed CEO of EMEA and assumes responsibility for its MGA businesses and Thistle Insurance Services.

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.”