Marsh-JLT Hong Kong leadership team confirmed

March 11 2019 by Andrew Tjaardstra

InsuranceAsia News has learned that Rohan Bhappu, Marsh’s Hong Kong and Macau chief executive, will become CEO of the combined Marsh JLT Hong Kong and Macau operations.

Bhappu, formerly managing director sales and industries Asia at Marsh, has been at the broker for 17 years and started his current role on December 1. He has previously worked across numerous business lines, such as M&A, private equity, middle market and sales, working in India, Singapore and the US.

His impending appointment follows the announcement of the departure of JLT Hong Kong chief executive Kurt Schreiber’s. His impending retirement from the broker is set for the end of June after only 18 months at the helm.

Rebecca Poon, who has been a director at JLT for over 30 years, will become deputy chief executive of the merged operation, while Nick Cousins, deputy chief executive of Hong Kong and head of risk compliance Asia at JLT, will become chief client officer of Hong Kong and Macau; Cousins has been at JLT for more than two decades.

In addition, Duncan Stockley, chief broking officer and placement leader at Marsh Hong Kong, will take up the role of chief broking officer at the merged entity.

A spokesperson for Marsh told InsuranceAsia News: “These appointments mark another step forward as we prepare to bring our two firms together. We are excited about the value proposition that the combined Marsh and JLT business will bring to clients when the transaction closes, and naming the future team will help us deliver this with greater speed and capability.”

Marsh has already announced its plans for the combined group’s senior leadership in the region.

The US$5 billion acquisition of JLT is expected to go ahead “this spring” and is still subject to certain competition and financial regulatory approvals. It has not been without challenges as the broker has had to sell its 250 people global aerospace operation to Arthur J Gallagher for around US$250 million to help satisfy European Commission competition concerns.