Willis lures top leader back as it prepares to 'compete vigorously' after failed Aon deal
Broker Willis Towers Watson (WTW) has brought back a senior executive to take over the chief financial officer (CFO) position, just six months after he left the company for a rival broker. WTW has recently announced its ' aggressive talent retention' strategy as it looks to move on from its failed $30 billion merger deal with Aon.
Andrew Krasner (pictured) is returning to WTW, but this time as its new CFO. He is replacing Mike Burwell, who is moving to the "medical and data analytics industry".
Krasner moved to AssuredPartners in February this year to drive financial strategy and performance as the CFO of the company. Prior to that, he served as global treasurer and head of mergers and acquisitions for Willis Towers Watson, and senior vice president of Willis Towers Watson Securities.
Krasner started his career with Willis Towers Watson in 2009; before that he held various financial roles at PricewaterhouseCoopers (PwC), Deutsche Bank and Bank of America Merrill Lynch.
Industry analysts expect WTW shares to trade up on the announcement. According to KBW's Meyer Shields, investors will welcome Krasner specific P&C brokerage experience, particularly his AssuredPartners experience.
John Haley, chief executive officer of WTW, said: “Andrew brings almost 25 years of diverse financial and transaction leadership back to Willis Towers Watson. He played key roles in the evolution of Willis Towers Watson as we’ve grown through large combinations over the years. I’m confident Andrew will bring his strategic financial perspective to the company and contribute to our future success. I’d also like to thank Mike for his leadership and dedication to Willis Towers Watson and our finance efforts. Andrew and Mike will work together to ensure a smooth transition of responsibilities.”
Carl Hess, president of the company, added: “We wish Mike well and look forward to Andrew’s energy, expertise and leadership as part of our team going forward. His contributions will be critical as we continue our efforts to offer a compelling colleague experience, innovate and adapt to address client needs, deliver significant value for our shareholders and better the communities in which we live and work.”
Krasner commented: “I’m excited to return to Willis Towers Watson’s rich culture, strong values and deep commitment to its colleagues and clients. Willis Towers Watson is well positioned to compete vigorously across its businesses around the world. I’m also honored to have the opportunity to help drive its financial strategy, growth and performance as CFO.”
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