Gallagher, the global broking brand of Arthur J. Gallagher & Co., has announced the hire of Tom Wakefield from Aon to take on the role of Chief Executive Officer (CEO) of its reinsurance business, Gallagher Re.
Wakefield will take over the Gallagher Re CEO role from Simon Behagg, who is transitioning into a new role of Managing Director of the reinsurance broker.
With the Willis Re acquisition on the cards, once its rivals have merged, Gallagher’s reinsurance broking unit is set to become much larger and will occupy a top-three position globally.
However, we understand the hiring of Wakefield has been on the cards for months now, with the executive having been on gardening leave since late last summer.
Wakefield spent 17 year’s at Aon, most recently as its COO for the Global Re Marine, Specialty and Composite reinsurance business.
In that role, Wakefield led Aon’s book of marine composite reinsurance business and was also its UK ‘Growth Leader’ for reinsurance solutions.
As CEO of Gallagher Re, he will lead the ongoing expansion of Gallagher’s reinsurance operations and will work closely with Simon Behagg and the rest of its senior management team to continue to drive an ambitious growth agenda.
In addition, Wakefield will join Gallagher’s UK Executive Team reporting to CEO, Simon Matson.
Matson commented, “The evolution journey that sits behind Gallagher Re since its inception in 2013 is quite incredible. Since becoming a fully-owned part of Gallagher in 2020, the business has continued to deliver on its aggressive growth trajectory, latterly under Simon’s leadership, and continued to attract a wealth of reinsurance talent, including Tom, on to the team.
“We are delighted to now have Tom step into the role of CEO at a time when Gallagher Re is set to embark on the most exciting chapter yet in the business’ remarkable growth story. However, while the Willis Re transaction progresses through the required regulatory processes, our focus remains on driving forward our existing Gallagher Re business strategy with Tom at the helm.”
Commenting on his appointment, Wakefield added, “Gallagher Re’s rise from a start-up challenger brand to a world-class and highly-respected reinsurance broker is something that I have long admired. I am excited to be joining such an innovative and entrepreneurial organisation and look forward to working alongside this hugely talented group of people to drive forward the business’ growth agenda and further expand and enhance our client offering.”