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BOSTON - Willis, a WTW business (NASDAQ:WTW), has announced David Loftstrom as the new Deputy Regional Leader for New England within its Corporate Risk and Broking (CRB) division. Loftstrom, who brings over three decades of industry experience, will be based in Boston and report to Ionel Rizea, the Chief Commercial Officer for CRB North America. The appointment comes as WTW, currently valued at $30.8 billion, maintains its strong market position with a 25% stock price increase over the past year. According to InvestingPro data, the company has maintained dividend payments for 23 consecutive years, demonstrating consistent shareholder returns.
In his new role, Loftstrom will be instrumental in driving the company’s growth strategy across New England by identifying new opportunities and collaborating with industry leaders and experts to deliver value to clients. His appointment is seen as a strategic move to strengthen Willis’s position as an industry leader in the region. The company’s solid financial foundation, with a healthy current ratio of 1.16 and strong cash flow generation, positions it well for strategic growth initiatives.
Loftstrom joins Willis from Gallagher, where he served as Area President in the Greater Boston region. His responsibilities at Gallagher included overseeing branch performance, managing business development, and integrating mergers and acquisitions, which aligns with his new objectives at Willis.
Ionel Rizea expressed enthusiasm about Loftstrom’s appointment, stating, "His experience – particularly in the sales and business development space, complements our growth strategy for North America." Rizea also highlighted Loftstrom’s background in brokerage and client risk management as being in line with CRB’s goal of providing innovative solutions to clients.
WTW is a global company that offers data-driven and insight-led solutions in the areas of people, risk, and capital. The company operates in 140 countries and markets, aiming to help organizations improve their strategy, resilience, workforce motivation, and overall performance. With annual revenue of $9.8 billion and a robust gross profit margin of 44.8%, WTW demonstrates strong operational efficiency. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which includes expert analysis and key financial metrics for informed decision-making.
This announcement is based on a press release statement from Willis Towers Watson US LLC.
In other recent news, Willis Towers Watson (WTW) reported significant developments, beginning with Fitch Ratings upgrading its Long-Term Issuer Default Rating to ’BBB+’ from ’BBB’, reflecting operational improvements and solid organic trends. The ratings upgrade affects approximately $5.3 billion of debt, excluding a $1.5 billion Revolving Credit Facility. WTW has also expanded its North American presence by acquiring Global Commercial Credit, LLC (GCC) and ProfitGuard, aiming to enhance its credit and political risk insurance offerings. This acquisition aligns with WTW’s strategy to optimize its portfolio and expand into high-growth broking businesses. Additionally, WTW has strengthened its trade credit insurance offerings with the acquisition of CFS International Inc., further bolstering its national presence. In leadership changes, Harry Merker has been appointed as the new Property and Casualty Cross Industry Sales Leader and Alternative Asset Insurance Solutions Sales Leader for North America. Moreover, Kate Harb and Dermot Sargent have been named Global Data Strategy Leader and Global Digital Platforms Leader, respectively, to advance the company’s digital and data strategies. These developments underscore WTW’s ongoing efforts to enhance its market position and service capabilities across various sectors.
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