Plumeri says new deputy is not there to replace him, but to help Willis 'be better'

Willis chairman and chief executive Joe Plumeri has rubbished rumours that new deputy chairman Martin Sullivan, above, has been bought in to replace him.

Plumeri told a press conference at last week’s Reinsurance Rendez-Vous in Monte Carlo that he had no plans to leave the broker.

He also defended the appointment of Sullivan, who is famous for running AIG from 2005-08, when it was at the height of its well-documented financial troubles, which led to millions of dollars of government aid and the break-up of the group.

Plumeri said: ““This is about what he is going to do here – I can’t concern myself with the past.”

He said that Sullivan would help Willis “be better”, adding: “He has been in the business for four decades, he knows a lot about the business and he knows a lot of people. To have the opportunity to have someone like this join us and help us manage extremes all over the world is great.”