Asia chairman Gerry Callaghan to retire and Singapore CEO Manan Sagar has resigned
Lockton’s Asia region chairman Gerry Callaghan has announced his intention to retire at the end of the year and to sit on a newly created regional board.
The board will be chaired by Khun Wattana Wongvisesnopakun, who has led Lockton’s Thailand business for almost there decades.
Furthermore, chief executive officer for Lockton Singapore Manan Sagar (pictured) has resigned from his position. He is moving to London later this year.
Lockton’s head of multi-national clients for Asia Peter Jackson will take on the interim CEO role and a new CEO will be announced in due course.
Further changes are expected in Lockton’s Hong Kong office.
Head of Lockton International Holdings Limited Mike Hammond revealed today that Lockton Insurance Asia would be undertaking a significant restructure of its Asian corporate operations. He said that a major part of this development was the formation of the new regional board.
“These are exciting times for our business in Asia,” he said.
“The business has grown rapidly, and we now need to look at the way we are structured to ensure we are in a position to proactively meet the needs of our clients.”
By the end of this month, Lockton’s brokerage and fee revenues across Asia Pacific will exceed $50 million for the first time, an increase of more than 125% since Lockton Insurance entered the Asia market in 2006.
Khun Wattana said that to continue growing, Lockton Insurance needed to work out how to best use its regional resources.
“Up until now, our owned operations have largely operated independently,” he said.
“However, over the last 10 years we have seen a trend of our clients needing regional and global solutions, regardless of where their headquarters are located.”