Michael Popkin and Rick Miller join Aon Securities from JLT Capital Markets, where they were co-heads of the unit.
Mr. Popkin spent nearly eight years co-leading the capital markets businesses at JLT and Towers Watson, where he and Mr. Miller pioneered the development of private placement catastrophe bonds. Previously, Mr. 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.
Mr. Miller was co-head of the capital markets business at JLT and its predecessors, Towers Watson and Towers Perrin, for nearly 10 years. He launched and developed the capital markets desk, and, with Mr. Popkin developed the private placement technology for the insurance linked securities (ILS) markets. His experience within the ILS community originated at Swiss Re Capital Markets, where he played an instrumental role in facilitating secondary market liquidity in broken distressed catastrophe bond positions after the 2008 financial crisis.
Mr. Miller and Mr. Popkin start their new roles with immediate effect, reporting to Chief Executive Officer of Aon Securities, Paul Schultz.
Paul Schultz said: “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.”
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