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Daily Insurance Industry News
Thursday 18th of January 2018
October 8, 2011

Willis appoints investor relations chief

by Gill Montia

Story link: Willis appoints investor relations chief

Willis is intending to attract more institutional shareholders and generally improve its position in the investor community, having appointed Peter Poillon as director of investor relations.

The broker’s net income was more than halved in the first six months of 2011, compared with a year earlier, having been hit by a £7 million fine in the UK from the Financial Services Authority and by costs associated with an operational review.

However, from his New York base and reporting to group chief financial officer, Mike Neborak, Mr Poillon will freshen up the group’s investor relations strategy, while maintaining and developing relationships with analysts and the like.

Mr Poillon joins from financial services group, Cowen, where he held the posts of managing director and head of investor relations and corporate communications.

Previously, he completed an eighteen year stint with Ambac Financial, nine years of which were spent as head of investor and media relations.

Willis’ strategic review should give investors something to look forward to, aimed as it is at generating cost savings of between $65 and $75 million this year, followed by annual cost savings of up to $105 million from 2012.

 

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