Willis appoints Robert Staeheli as Head of Defense and Security, North America

Impact · against what's priced in

The appointment of a new Head of Defense and Security for North America is a routine personnel move that does not meaningfully change the growth outlook for WTW. While it aligns with a desire for growth, it is insufficient to trigger the revenue acceleration the market currently refuses to price in.

WTW+0.00

Doesn't touch the price's assumptions

The price assumes

The revenue acceleration to a 7.9% CAGR