Aon Securities, the investment banking division of (re)insurance broker Aon has announced the appointment of former co-heads at JLT Capital Markets, Michael Popkin and Rick Miller to help drive growth and innovation within its capital markets function, effective immediately.
Popkin and Miller will both report into Paul Schultz, chief executive officer of Aon Securities. The move follows the acquisition of JLT by Marsh & McLennan Cos. Inc., which was completed in April.
Popkin spent nearly eight years co-leading the capital markets businesses at JLT and Towers Watson, where he and Miller pioneered the development of private placement catastrophe bonds. Prior to that, Popkin worked in investment banking and energy. He also has buy-side experience as a portfolio manager in structured credit, as well as significant international experience, having worked in the US, Europe, and Asia.
Meanwhile Miller was co-head of the capital markets business at JLT and its predecessors, Towers Watson and Towers Perrin, for nearly 10 years. He previously launched and developed the capital markets desk, and, partnered with Popkin they developed the private placement technology for the insurance linked securities (ILS) markets.
Schultz commented: “The insurance-linked securities sector continues to be an incredibly dynamic environment, characterized by continued growth in alternative capital and investors and sponsors that are willing to look at new ways to match risk and capital. We welcome Mike & Rick to the team as we work together to drive innovation across geographies and perils in the ILS space in order to ensure its continued growth.”