Insurance broker Willis Group Holdings has announced long-time chairman and chief executive officer Joe Plumeri is stepping down from the world’s third-largest brokerage at the beginning of next year.Dominic Casserley will serve as the group CEO when Mr Plumeri steps down January 7.He joins Willis after 29 years with global management consulting firm, McKinsey & Co.The London-based company also said yesterday that Steve Hearn, 46, will serve as Willis Group deputy CEO. Mr Hearn is currently chairman and CEO of Willis Global.Mr Casserley, 54, joined New York-based McKinsey in 1983 and has been working out of the management consulting firm’s London office since 2000. He has also led the firm’s China and UK and Ireland practices.Mr Casserley is the second McKinsey partner to leave to head a major insurance brokerage in recent years. In 2005, Aon Corp hired former McKinsey partner Gregory Case as president and CEO.Willis’ presiding independent director and Allen & Co LLC managing director Bill Bradley said: “The board of directors, which has now concluded a rigorous and thorough search for our next CEO, is thrilled to welcome Dominic Casserley to Willis to inaugurate the next great era for our company.“We think Dominic will be an extraordinary leader for Willis, just as Joe Plumeri has been. Willis is indebted to Joe for his passionate stewardship of our firm spanning more than a decade in which Willis delivered unrivalled shareholder value among our peers.“We are also grateful that Steve Hearn, a great broking industry leader within our own ranks, will step up as Dominic’s partner and Deputy CEO to help bring Willis to the next level.”In a statement announcing the Willis appointment, Mr. Casserley said: “I have observed over 30 years as governments, businesses and organisations that operate across borders have become increasingly interconnected. Managing their risks is more complex than ever, but Willis consistently demonstrates how to do it right. I believe the opportunities in front of Willis are enormous, and I am very excited to be joining the team at this critical time.”Mr Plumeri, 69, who joined Willis in October 2000, led the company back to public ownership and drove its global expansion during his 12-year tenure. He will stay on as non-executive chairman of the company’s board of directors through the remainder of his current contract, which expires next July.“I am proud beyond words of our company’s achievements seizing on opportunities and confronting challenges spanning a dozen years,” Mr Plumeri said. “But I’m equally excited about the path ahead for Willis under the leadership of Dominic Casserley and Steve Hearn and our outstanding team of leaders and 17,000 associates around the world.”