Marcus Foley is to join the Bermuda office of Aon Reinsurance Solutions as head of capital management.

The company said Mr Foley will report to Tony Fox, chairman and chief executive officer, Bermuda, and Eric Paire, head of London Capital Advisory of Reinsurance Solutions.

Aon said the hiring is subject to the approval of the Bermuda Department of Immigration.

The company said Mr Foley joins from specialty insurance and reinsurance company Aspen, where he had held several positions, most recently that of group chief capital management and strategy officer. During his 15-year career, Mr Foley also worked as a capital modeler at EMB Consultancy LLP.

Mr Fox said: “We are excited to welcome Marcus to our team, and believe that his skills will become an important part of our offering as clients seek to holistically plan their capital management strategies.”

Andy Marcell, CEO of Reinsurance Solutions at Aon, added: “Over the past several years, we have been increasing our capital management advisory capabilities globally. In hiring Marcus, we aim to augment that service and deliver it to a greater range of clients.”

Mr Paire said: “We are seeing a growing demand from our clients for independent bespoke advice. Marcus, working with Reinsurance Solutions’ Bermudian office, and supported by the Capital Advisory team in London, brings expertise and experience to serve the sophisticated Bermudian market.”

Aon also announced that it has named Tim Radford to its London Capital Advisory team within Reinsurance Solutions.

The company said Mr Radford will join to support the team’s capabilities in Lloyd’s capital optimisation and Funds at Lloyd’s provision, and will report to James Mackay, head of Lloyd’s Relationships within London Capital Advisory.