Willis Group Holdings, the global risk advisory, re/insurance broking, and human capital and benefits firm, has appointed Michael K. O’Connell as the firm’s Financial Institutions Industry Leader for North America.
He will also join the leadership team of Willis’s Global Financial Institutions Industry Group.
“Financial Institutions are in the midst of unprecedented change as regulatory requirements and market volatility continue to reshape the risk landscape,” O’Connell said. “Financial Institutions require finely tuned risk analysis, to help them assess their exposures, and innovative risk management solutions to overcome these challenges. I’m thrilled to be joining Willis, with its best-in-class analytical capabilities and global network of resources, Willis stands ready to deliver for clients.”
O’Connell will be responsible for expanding Willis’s footprint in this sector in North America. He will work closely with Willis’s Global Financial Institutions Industry Group to focus on the unique needs of clients in this sector, while providing them access to the full range of insurance products and risk management services that Willis offers. Willis’s Global Industry Groups, established in late 2013, are designed to seamlessly connect Willis industry experts with product and geography leaders around the world.
Based in New York, O’Connell has more than 28 years of experience in serving financial institutions. Previously he served for 10 years as Financial Institutions Practice leader at Aon Risk Services and prior to that he held a similar role at Marsh.
Financial Institutions are one of the largest segments of the global economy, both growing and rapidly changing, with a complex set of traditional and emerging risks. Commenting on the appointment Todd Jones, CEO, Willis North America said, “Throughout his career, Mike has been one step ahead of change in this sector, providing clients with the insights, service, creativity and trust that our clients demand in a risk advisor.”
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