Willis Towers Watson has promoted Rafal Walkiewicz to CEO of investment banking arm Willis Capital Markets & Advisory.

He has been co-CEO since last year, working jointly with Michael Guo, who will leave.

“[Mr Walkiewicz] has been instrumental to the success of [the company] over the past few years and I am confident he will continue to strengthen its client offering and drive the business forward in new markets,” Willis Towers Watson President and Deputy CEO Dominic Casserley said.

Mr Walkiewicz joined the company in 2014. He has more than 15 years’ experience in financial businesses and insurers globally.

“With unprecedented globalisation of the insurance industry, we remain committed to our strategy in Asia to support our clients’ interests in the region as well as growing global ambitions of Asian capital,” he said.

Mr Walkiewicz will be based in New York.