George Caffrey was named head of Towers Watson's insurance investment advisory group, confirmed spokeswoman Binoli Savani.
Mr. Caffrey replaces Karen Wells and Andrew Canning, who are retiring at the end of the year. Mr. Caffrey's responsibilities include assisting insurance clients in asset allocation, governance, manager selection, performance evaluation and M&A activity.
Ms. Wells and Mr. Canning joined Towers Watson when the firm bought WellsCanning, the investment advisory firm they founded, in October 2011.
Mr. Caffrey was most recently managing director and director of research at GMP Securities. Rocco Colella, director of investor relations at GMP, did not return a telephone call.
Also, Towers Watson named Elise Klarfeld Ornstein and Chris Thompson senior investment consultants in the New York office.
Ms. Ornstein was previously a senior investment consultant at Hewitt EnnisKnupp. Maurissa Kanter, spokeswoman for HEK, could not be reached for information on a replacement. Mr. Thompson was most recently senior vice president and head of global equity manager research at Segal Rogerscasey. Mr. Thompson has not been replaced, and the firm has reorganized its research teams and combined several pieces for more coordination and efficiency, spokeswoman Mary Feldman said.
