Marsh appoints Andrew Fiscella and John Umbach US SPAC co-leaders
Marsh appointed Andrew Fiscella and John Umbach as SPAC Co-Leaders within Marsh Specialty’s US Financial and Professional Liability (FINPRO) Practice.
In this dual leadership role, Messrs. Fiscella and Umbach are responsible for leading a team of risk specialists in helping Special Purpose Acquisition Company (SPAC) clients identify risks, customize programs, and secure directors and officers liability (D&O) 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, Messrs. Fiscella and Umbach previously served as Senior Vice Presidents within the FINPRO Practice, completing hundreds of SPAC IPOs and de-SPAC transactions since 2019.
Commenting on the appointment, James Beatty, US FINPRO Practice Leader, 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. 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.”
Mr. Fiscella said: “Given the steady rise in SPAC- and de-SPAC- related litigation as well as increased Securities and Exchange Commission oversight, it is vitally important that our clients have robust D&O coverage in place.”
“Marsh’s SPAC team plays a critical role in providing the risk transfer and advisory services that contribute to the success of our client’s transactions,” Mr. Umbach added.