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Guy Carpenter parachutes Newhouse into London

Guy Carpenter chairman Britt Newhouse is relocating to London as the reinsurance broker looks to bolster the management structure of its European operations, The Insurance Insider can reveal.

The move - which will take effect from 1 July - comes just over a year after the Marsh & McLennan (MMC) subsidiary named Newhouse chairman and Peter Zaffino CEO in a management reshuffle that saw it relocate its headquarters and powerbase back to the US.

Zaffino replaced David Spiller early last year, amid suggestions that the Englishman had been unwilling to relocate to New York at the behest of then new MMC chief Brian Duperreault.

Under Spiller's tenure, the firm's London operations appeared to grow in influence, with Charlie Fry, the broker's global COO, also based there.

But with Spiller's departure - following that of Guy Carpenter's head of UK, Continental Europe and Asia Geoff Bromley - senior management resources at the firm's London office were diminished, a situation compounded by the relocation of Fry to New York last August.

That left Nick Frankland, the CEO of the broker's European operations, as the only member of its executive management team based in London.

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