LONDON, June 23, 2014 (GLOBE NEWSWIRE) -- Faber Global, the facultative and wholesale reinsurance arm of Willis Group Holdings (NYSE:WSH), the global risk adviser, insurance and reinsurance broker has today announced the appointment of Alistair Lester as CEO. Lester will report to Steve Hearn, Chairman and CEO of Willis Global. The current Faber CEO, Jason Howard, will become CEO of the newly-formed Acappella Group Holdings Ltd. Both appointments take effect 1 July 2014.
Lester joined Willis in 2004, initially as Head of the European M&A practice and subsequently International Head of M&A. He then held positions as a member of Willis's FINEX Global Executive Committee, CEO Willis Global Solutions and most recently as interim CEO of Willis Netherlands.
Announcing the changes, Hearn said, "Faber has made tremendous progress in recent years, using a world class platform and well developed distribution network to bring the benefits of global market access and on the ground expertise to clients around the world. Alistair brings a wealth of global client expertise, essential to continuing Faber's impressive growth in international markets."
Lester said, "Faber has established itself as a world leader in both facultative and wholesale reinsurance. It brings the powerful combination of an independent trading ethos backed by the resources of a global industry leader to our clients. I look forward to building on Faber's strong growth record."
Howard's appointment as CEO Acappella Group Holdings Ltd follows three years as Faber CEO. Previously, he was CEO of Willis Re's international and specialty reinsurance broking arm.
David Indge recently joined from Lloyd's of London where he spent over a decade working in the Performance Management Directorate, first as Head of Underwriting Performance and then Head of Class of Business. Prior to Lloyd's he spent twenty years in underwriting roles at a variety of reinsurers.
Acappella is funded by Willis and Ironshore, the global property and casualty insurer. Once fully established, it will combine underwriting, capital markets, analytical and distribution capabilities to the market.
Willis Group Holdings plc is a leading global risk adviser, insurance and reinsurance broker. With roots dating to 1828, Willis operates today on every continent with more than 18,500 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world's leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Find more information at our website, www.willis.com, our leadership journal, Resilience, or our up-to-the-minute blog on breaking news, WillisWire. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky world.