Global reinsurance broker Guy Carpenter, part of Marsh & McLennan, has promoted David Priebe to become its Chairman, effective immediately.
Priebe has been with Guy Carpenter since 1981, holding a range of increasingly senior leadership roles, most recently as Vice Chairman.
Now moving up to Chair the reinsurance broker, Priebe will continue to report to Guy Carpenter’s President and CEO, Peter Hearn and will keep a seat on the company’s Executive Committee.
Guy Carpenter said the promotion “reflects the strategic alignment of the firm’s leadership structure to ensure the company delivers strategic services, solutions and value to clients.”
CEO Hearn explainned, “For decades, David has worked tirelessly to elevate Guy Carpenter’s reputation across the globe. He is a true client champion and has dedicated his career to helping Guy Carpenter identify client needs and develop and deliver solutions that help them profitably grow. No one is better suited to help steward the future of our firm as Chairman.”
Priebe will be expected to work with Hearn to continue to integrate Guy Carpenter and JLT Re capabilities following its recetn acquisition by MMC.
He will also be tasked with working closely with John Trace, CEO of North America, to support key North America-based clients and will maintain relationships with numerous global clients of Guy Carpenter as well.
Priebe also will continue to oversee Guy Carpenter’s newly created Global Capital Solutions Group, a unit that was formed and consists of its ILS and capital markets focused GC Securities and Global Risk Solutions, led by Shiv Kumar and Ed Hochberg respectively.
This new unit was set up to bring together the capital markets, non-traditional solutions, M&A advisory and third party capital raising capabilities, creating an integrated team to help drive increased client profitability and growth.
“For the last several decades I have focused on advancing Guy Carpenter in the eyes of clients, markets and colleagues,” Priebe commented. “I am honored to be named Chairman and am excited to continue to shape the future of the firm as we focus on helping our clients and colleagues grow.”
Hearn added, “David is a natural leader who possesses broad global experience in reinsurance and a proven record of delivering success to clients. His deep understanding of our business and our clients, combined with nearly 40 years of expertise in the industry, uniquely prepares him for the role.”