Willis announces leadership changes in construction and surety teams

NEW YORK - Willis, a WTW business (NASDAQ:WTW), announced Tuesday several leadership changes within its Global Construction and Global Surety teams aimed at strengthening industry expertise and enhancing client service. The company, currently trading near its 52-week high with a market capitalization of $32.3 billion, has seen its stock rise over 14% in the past year.

Bill Creedon, who has led the company’s Global Construction business for over five years, will transition to the role of Chairman. In this position, Creedon will remain involved with the Global Construction community, focusing on client engagement and talent development.

Scott Hull will expand his responsibilities to become Global Head of Construction and Surety, building upon his current position as Global Head of Surety. Hull rejoined WTW in 2014 to lead the Surety practice after holding senior roles at Marsh and previous leadership positions within WTW’s Construction business.

Additionally, Goly Jafari has been appointed Global Deputy of Construction and Surety. Jafari joined WTW in 2016 as Head of Global Surety Strategy and Operations and most recently served as Head of Strategy and Execution for the company’s North America industry divisions.

"This is an exciting time for our Construction and Surety teams, reflecting their collaboration and dedication to delivering seamless, integrated solutions for our clients," Creedon said in the press release.

WTW provides data-driven solutions in the areas of people, risk and capital, serving clients across 140 countries and markets, according to the company statement. The company generates annual revenue of $9.8 billion and maintains strong financial health, as indicated by its Fair Value metrics available on InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering over 1,400 US stocks.

In other recent news, Willis Towers Watson reported its second-quarter results, surpassing analysts’ expectations. The company announced adjusted earnings of $2.86 per share, which exceeded the anticipated $2.63 per share. Revenue for the quarter reached $2.3 billion, topping the consensus estimate of $2.23 billion, despite flat year-over-year reported revenue due to the sale of its TRANZACT business. The company achieved 5% organic revenue growth during this period.

Additionally, Evercore ISI raised its price target for Willis Towers Watson to $373 from $364, maintaining an Outperform rating. The decision was influenced by a stronger quarter, improved margins, and growth in the Health sector. Evercore ISI also noted a reduced impact from the Reinsurance buildout in the second half of the year compared to earlier estimates. These developments highlight the company’s recent performance and outlook.

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