(Bloomberg) ? Willis Group Holdings Ltd. hired Michael Ferreira from competitor Marsh & McLennan Cos., the insurance broker accused by New York Attorney General Eliot Spitzer of rigging bids and taking kickbacks from insurers.

Willis, the world?s third-largest broker, named Ferreira, Marsh?s ?Client Executive of the Year? in 2003, to executive vice president in New York.

He chose to leave Marsh, the largest broker, after Spitzer sued the broker in October, Willis spokesman Dan Prince said. ?The issues that Mr. Spitzer raised prompted Michael to call us,? Prince said.

Willis has hired at least 20 Marsh brokers and executives in the last three months, including former managing director Arlene Corsetti, who oversaw 17 offices that produced $550 million of 2003 revenue.

Concerns that departures will impede Marsh?s ability to keep clients have contributed to a 32 percent drop in the company?s shares since Spitzer?s October 14 lawsuit.

Ferreira was a senior vice president at Marsh responsible for client relationships.

He will work at Willis Risk Solutions, a unit that focuses on large clients.

Beecher Carlson Holdings Inc., an Atlanta-based insurance broker, hired five executives from Marsh last week, including Steven Anderson, the chairman of a 600-person unit.

Shares of Bermuda-based Willis fell 21 cents to $40.04 at 9.52 a.m. in New York Stock Exchange composite trading. New York- based Marsh slipped 16 cents to $31.