‘I couldn’t pass up the opportunity to be part of the story,’ says the former Willis UK boss
Former Willis UK and Ireland chief executive Brendan McManus has been appointed the new chief executive of Giles.
Current Giles group chief executive Chris Giles will take the role of executive chairman to develop the consolidator’s international business.
Giles said he will continue to focus on acquisitions and the offshore business while McManus runs broking and underwriting.
McManus brings experience dealing with corporate clients. Giles said: “His pedigree and breadth in the sector will be real assets.”
McManus said: “The fact [Giles] still has massive ambitions for it meant I couldn’t pass up the opportunity to be part of the story.”
Speculation has surrounded McManus since his sudden departure as Willis chief in October.
McManus increased Willis’s UK commissions and fees - in a soft market and depressed economy – from $860m (£535m) in 2008 to $902m in 2010, according to the Willis annual report last year.
Before joining Willis, McManus worked at RSA for 20 years.