Tom Wakefield named Gallagher Re CEO ahead of Willis Re merger

Tom Wakefield, CEO, Gallagher Re

Gallagher has revealed that Tom Wakefield will become CEO of Gallagher Re taking over from Simon Behagg.

Behagg, who has been in the post since February when he replaced Rupert Swallow and with the firm since May 2014, will transition to the new role of managing director of Gallagher Re.

Wakefield, pictured, has joined from Aon where he spent 17-years, latterly as chief operating officer for the global re marine, specialty and composite business and leading the broker’s book of marine composite reinsurance business.

He will report to Gallagher UK CEO Simon Matson and join the UK executive team. According to the firm, Wakefield will be responsible for expanding the reinsurance operations and will work closely with Behagg. His appointment remains subject to regulatory approval.

The move comes ahead of the already announced takeover of Willis Re’s global operations excluding mainland China and Hong Kong.

Provided the Aon and Willis Towers Watson merger – currently targeted for the third quarter of the year – is approved by regulators around the world and completes then Gallagher will buy Willis Re and other units for $3.57bn (£2.52bn).

Matson said: “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.”

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