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Press Release

WTW further strengthens leadership in Risk & Broking

July 24, 2023

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  • Lucy Clarke to join WTW as President, Risk & Broking in the third quarter of 2024
  • Adam Garrard to take on role of Chairman, Risk & Broking upon her arrival

LONDON, July 24, 2023 — WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, today announced it is further strengthening its Risk & Broking leadership in order to enhance specialization, digitization and optimization capabilities.

Lucy Clarke will join WTW as president, Risk & Broking, in the third quarter of 2024. Upon her arrival, Adam Garrard will take on the role of chairman, Risk & Broking. The two will work closely to drive the continued growth of WTW’s Risk & Broking segment, which comprises more than 14,000 colleagues serving 140 countries and markets around the world.

WTW’s chief executive officer, Carl Hess, said: “With the addition of Lucy to our strong Risk & Broking leadership team, WTW will offer an even more compelling value proposition as we continue to innovate and adapt to address our clients’ changing needs. I look forward to welcoming Lucy to the WTW team next year and know she will help us relentlessly drive our strategic priorities forward.”

In her role as president, Risk & Broking, Clarke will report to Carl Hess, and will be responsible for the day-to-day financial and operational management and growth of the business. Until she joins WTW, Garrard will continue in his current role as head of Risk & Broking and, upon her arrival, he will act as chairman.

Clarke brings with her deep industry experience gained through a 25-year career that has included diverse leadership positions with JLT Group and Marsh. In her most recent role, she serves as the president of Marsh Specialty and Global Placement. Prior to that, she was the chief executive officer of JLT Global Specialty, the insurance and risk arm of the JLT Group. Clarke graduated from Vanderbilt University and has worked in London since 1990.

Adam Garrard, WTW's head of Risk & Broking, commented: “We are excited to announce this strong addition to WTW. Lucy is an industry leader committed to specialization, exceptional client service, data and analytics, aligning with core WTW market strengths and growth priorities. She has extraordinary market presence, a proven track record of delivering results and an intense focus on talent. We are confident in the role that WTW plays in supporting clients in an ever-changing risk landscape and will continue to add talent where there is a strong fit with WTW’s culture and ambitions.”

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

WTW Forward-Looking Statements

This document contains ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws. These forward-looking statements include information about planned Risk & Broking leadership transition and strategy. All statements, other than statements of historical facts, that address activities, events, or developments that we expect or anticipate may occur in the future. Also, when we use words such as ‘may’, ‘will’, ‘would’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘plan’, ‘continues’, ‘seek’, ‘target’, ‘goal’, ‘focus’, ‘probably’, or similar expressions, we are making forward-looking statements. Such statements are based upon the current beliefs and expectations of the Company’s management and strategy and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. All forward-looking disclosure is speculative by its nature.

There are important risks, uncertainties, events and factors that could cause our actual results or performance to differ materially from those in the forward-looking statements contained in this document, including our ability to successfully complete the Risk & Broking leadership transition and other related risks. These risks are not exhaustive and new factors may emerge from time to time that could also affect us. For more information, please see Part I, Item 1A in our Annual Report on Form 10-K, and our subsequent filings with the SEC. Copies are available online at www.sec.gov or www.wtwco.com.

Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of these assumptions, and therefore also the forward-looking statements based on these assumptions, could themselves prove to be inaccurate. Given the significant uncertainties inherent in the forward-looking statements included in this document, our inclusion of this information is not a representation or guarantee by us that our objectives and plans will be achieved.

Our forward-looking statements speak only as of the date made, and we will not update these forward-looking statements unless the securities laws require us to do so. With regard to these risks, uncertainties and assumptions, the forward-looking events discussed in this document may not occur, and we caution you against unduly relying on these forward-looking statements.

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