Profiles
4. WILLIS
10 TRINITY SQUARE
LONDON EC3P 3AX
TEL: 020 7488 8111
WEBSITE: WWW.WILLIS.COM + WWW.WILLIS.COM
FEE AND COMMISSION INCOME (2004): £423.52m
PRE-TAX PROFIT: N/A
NUMBER OF UK BRANCHES (2003): 20
NUMBER OF UK EMPLOYEES (AVERAGE FOR 2003): 4,000
CHIEF OFFICER: JOE PLUMERI
YEAR ESTABLISHED: 1828
MAJOR SHAREHOLDERS
KKR (7%)
MAIN LINES OF BUSINESS
All major areas of insurance broking.
CHIEF OFFICER BIOGRAPHY
Since assuming the role of chairman and chief executive of Willis Group Holdings Ltd in 2000, Joe Plumeri has instigated a number of initiatives that have revitalised and refocused the efforts of this 176-year-old pioneer in commercial insurance broking.
Building on Willis's global reputation, Plumeri created a growth strategy that has increased revenues and margins, reduced debt and bureaucracy, and unified the company's 14,500 employees operating in more than 300 locations in more than 75 countries.
Plumeri took the company public in 2001. During that year, Willis was recognised as the third best performing IPO listed on the New York Stock Exchange. Since then, the share price has more than doubled and the number of employees who are also shareholders has grown from 3% to more than 70%.
Prior to joining Willis, Plumeri enjoyed 32 years at Citigroup and its predecessor companies. One of his most notable accomplishments there involved the integration of the consumer businesses at Citicorp and Travelers Group, serving as the chief executive of Citibanking North America. In just one year, he improved the unit's overall financial performance with earnings soaring to $415m, a rise of 400% from $108m in the prior year. Directorships/corporate boards: Board of Visitors of the College of William and Mary; The United Negro College Fund; The National Center on Addiction and Substance Abuse; Commissioner of the New Jersey Sports and Exposition Authority.
