PATRICK RYAN TO STEP DOWN AS AON CHIEF EXECUTIVE

Chicago-based broker Aon has launched a search for a successor to Patrick Ryan, who has served as CEO of the company and its predecessor for 40 years. Mr Ryan, who helped found the company, will stay on as CEO until a successor is found, and will continue to serve as chairman of the board. Aon president and chief operating officer Michael O'Halleran has told the company that he will not be a candidate for the CEO position, and that he will relinquish those two posts to become senior vice-president to oversee global reinsurance broking, wholesale broking and managing underwriting activities.