Aon is consolidating its global brokerages into a single operation in the wake of a 20% lift in net income to $US864 million ($965 million).

The world's second-largest broker has appointed Steve McGill as Chairman and CEO of the new Aon Risk Services, while Ted Devine is President.

Mr McGill was CEO of Aon Risk Services Americas and Aon Global, while Mr Devine headed Aon Re Global, where he will be succeeded by Andrew Appel, formerly CEO of Aon Consulting.

Aon Risk Services' 26,000 employees across 26 countries will manage more than $US5 billion ($5.6 billion) in revenue.

Aon's fourth-quarter net income was down 7% to $US207 million ($231 million) but revenue for the period jumped 8% to $US2 billion ($2.2 billion). The broker's revenue for the full year improved 9% to $US7.5 billion ($8.4 billion).