Lockton Expands Leadership Roles for Spencer, Nimmo, Hammond
KANSAS CITY, Missouri, Sept. 29, 2015 /PRNewswire/ -- Lockton, the world's largest privately held, independent insurance broker, announced expanded leadership roles for Mike Hammond, Glenn Spencer, and Neil Nimmo.
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Glenn Spencer has been named Chief Operating Officer of Lockton, Inc. and President of Lockton Companies in the US. Spencer had previously been US Chief Operating Officer for Lockton.
Neil Nimmo will transition to CEO of both Lockton Companies LLP, in the UK, and Lockton International Holdings, Ltd, succeeding Mike Hammond on 1 May 2016. He is currently Deputy CEO for Lockton's international operations.
Mike Hammond has been appointed Executive Chairman of Lockton International Holdings, Ltd, the operating business for all of Lockton's businesses outside the US. In addition, Hammond will also work with the Lockton Inc. Board to develop and lead the company's strategic planning process globally.
These three executives will work closely together on Lockton's continuing global expansion, reporting to Lockton, Inc. President and CEO John Lumelleau.
"These gentlemen are three outstanding leaders who have played key roles in Lockton's organic growth during the past decade," said Lumelleau. "Ten years ago, Lockton began a plan to become a global broker. Our revenues were $400 million, exclusively in the US. Today, we have revenues $1.24 billion with more than 25 percent from outside the US. In their new roles, Glenn, Neil, and Mike will lead the continuing expansion of our business for our clients and Associates around the world."
Lockton Chairman David Lockton said, "We are fortunate to have a strong, dedicated group of leaders within Lockton. These new responsibilities are another step in our long-term planning to keep Lockton growing and thriving for the future." Lockton recently announced the promotion of Ron Lockton as Vice Chairman of Lockton, Inc.
Spencer is a ten-year Lockton Associate who has been the Chief Operating Officer of Lockton's US business since 2010, guiding the growth of the business from 2,300 Associates to more than 3,500 as revenue increased from $564 million to $925 million. He previously held executive roles at insurance brokers Palmer & Cay, Marsh, and Johnson & Higgins. He has also been Risk Manager at AOL. He is a graduate of the George Washington University School of Business. He is based in Lockton's Kansas City office.
Nimmo joined Lockton in 2007 and has been a leader in the growth and development of Lockton's UK and international operations during the past decade. He has been a key leader in Lockton's largest UK business, Risk Solutions, for the past eight years and has served as a founding Partner on the Board of Lockton Companies LLP. He has more than 30 years of experience advising clients and structuring complex insurance programs, particularly in the Professions and Management Liability fields. Before joining Lockton, he was a Managing Director at Marsh and worked at Johnson & Higgins in London. Nimmo will continue to be based in Lockton's London operation.
Hammond has led Lockton's operations outside the US since the privately held broker bought the international business of Alexander Forbes in November 2006. Under his leadership, the company has developed Lockton operations around the world with major growth in Asia, Australia, Mexico, Brazil, MENA, and the UK. During this time, Lockton's international operations have grown from $150 million in 2006 with 1,500 Associates to revenues of $317 million with 2,100 Associates in 2015. Mike developed his career at Sedgwick where he held client and executive board positions for 23 years in both the UK and US. He was previously CEO of Marsh UK between 2000–2003 and a Director of the Marsh Inc. Board.
About Lockton
More than 5,600 professionals at Lockton provide 48,000 clients around the world with risk management, insurance, employee benefits consulting, and retirement services that improve their businesses. From its founding in 1966 in Kansas City, Missouri, Lockton has attracted entrepreneurial professionals who have driven its growth to become the largest privately held, independent insurance broker in the world and 10th largest overall. For six consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance." To see the latest insights from Lockton's experts, check Lockton Market Update.
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