Insurance broker Carl Hess named as its next CEO

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Aug 16 - Insurance broker Willis Towers Watson announced on Monday company insider Carl Hess would be its next CEO and president, weeks after the collapse of a planned $30 billion merger with rival Aon Plc.

After the retirement of John Haley, Hess will take over the lead role of the firm's investment, risk and reinsurance business from January 1 to Jan. 2.

Aon and London-based rival Willis called off the merger after an impasse with the US Department of Justice. If it had been approved, the deal would have created the world's largest insurance broker.

Willis joined Hess in 1989. He will assume the presidency role immediately.