Willis Names Richard Magrann-Wells Head of its
North American Financial Services Practice
NEW YORK, March 25, 2010 – Willis Group Holdings (NYSE: WSH), the global
insurance broker, said today it has appointed Richard Magrann-Wells Senior Vice
President and Leader of its North American Financial Services Practice. He is based in
New York and reports to Eric Joost, National Partner, North American Specialties.
In his new role, Magrann-Wells will lead Willis’ client service and product development
strategy to serve the unique needs of the financial services sector. In addition to
working with large money center banks and other traditional financial institutions,
Magrann-Wells will lead the drive to expand Willis’ service offerings to other financial
services firms, such as hedge funds, community banks, insurance carriers, securities firms and
asset managers, as well as to related service providers, such as transfer agents.
“Financial services is a key growth area for Willis and we are
intent on continuing to expand our presence and capabilities in this space,” said
Don Bailey, Chairman and CEO of Willis North America. “Our clients consistently tell
us they want a broker who knows their company and their industry. With
his deep background in financial services, Richard’s appointment delivers on that commitment. I’m
confident that, with his experience and ability to work across business units and
with distribution networks, our clients will get the very best Willis has to
offer, no matter what risk solution they require.”
Commenting on his appointment, Magrann-Wells said, “I’m delighted to be joining Willis and to have the
opportunity to provide strategic risk management advice to our financial services clients. I’m
particularly excited to be seeking out new opportunities to grow the practice across
the broad spectrum of the financial services sector, and to harness the wealth
of Willis resources to meet the risk management needs of the industry.”
Magrann-Wells joins Willis after completing his Master of Laws (LLM) degree in Banking
and Financial Law at Boston University. A member of the California Bar since 1985, he
previously held senior positions with Merrill Lynch, Wells Fargo and Citibank, focusing
on such areas as foreign exchange, syndicated loans, capital structuring and emerging
markets. In addition to earning his LLM at Boston University, Magrann-Wells holds a
MBA in Finance from New York University’s Stern School of Business, and an
undergraduate degree in political science from the University of Southern California, Los Angeles.
He received his law degree from Hastings College of the Law, San Francisco.
Willis has more than 130 local offices across the United States and Canada, offering
a full range of insurance and risk management services, specialist expertise and global
resources to large corporate, middle-market and small business clients.
Willis Group Holdings plc is a leading global insurance broker, developing and delivering professional
insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to
corporations, public entities and institutions around the world. Willis has more than 400
offices in nearly 120 countries, with a global team of approximately 20,000 Associates
serving clients in some 190 countries. Additional information on Willis may be found