Willis Group names Casserly CEO, effective Jan 7

Insurance broker Willis Group Holdings has named McKinsey & Co. senior partner Dominic Casserley its next CEO, starting Jan. 7. Long-time Willis CEO Joe Plumeri will become non-executive chairman.

The London-based company also said Wednesday that Steve Hearn, 46, will serve as Willis Group deputy CEO. Hearn is currently chairman and CEO of Willis Global.

Casserley, 54, joined McKinsey & Co. in 1983 and has been working across Europe from London since 2000. He has led the firm's China and UK and Ireland practices.

Plumeri, 69, will serve as non-executive chairman through next July. He joined Willis as chairman and CEO in 2000 and led the company through a 2001 initial public offering of stock.

Willis shares finished at $36.90 on Tuesday. Its shares traded at a 52-week low of $33.81 in mid-February. They peaked for the year at $40.70 almost a year ago.