Marsh has appointed Andrew Fiscella and John Umbach as SPAC co-leaders within its US financial and professional liability practice, effective immediately.
In this dual leadership role, Fiscella and Umbach will be responsible for leading a team of risk specialists in helping SPAC clients identify risks, customise programs, and secure directors and officers liability insurance policies throughout the life cycle of the SPAC, including the ultimate merger, known as a de-SPAC transaction.
Based in Denver and New York respectively, they previously served as senior vice presidents within the FINPRO Practice, completing hundreds of SPAC IPOs and de-SPAC transactions since 2019.
James Beatty, US FINPRO practice leader at Marsh Specialty, said: “With the proliferation of SPAC formations and de-SPAC transactions over the last three years, Marsh has assembled a world-class team of risk specialists who understand the nuances of these transactions and how best to mitigate risk.”
He added: “Clients and colleagues will benefit from Andrew’s and John’s knowledge and experience as we continue to develop solutions that provide SPACs with the protection they need to operate successfully in today’s ever-evolving risk environment.”
The firm made several leadership changes to its US FINPRO team in March 2021. Back then, it named Jacqueline Quintal, managing director, as its US digital asset leader where she was to oversee the delivery of risk transfer solutions to a broad range of firms working with digital assets and blockchain technology. Concurrently, the firm appointed Matthew McLellan as US directors and officers liability product leader.