Lockton, a privately held insurance broker, has expanded its financial services insurance and risk management practice with the addition of Derek Lakin as senior vice president in New York City.

In his new role, Lakin will be responsible for structuring, negotiating, and servicing director’s & officer’s liability, errors & omissions, media liability, cyber, crime, fiduciary liability, employment practices liability, and general partnership liability programs for an array of publicly-traded and privately-held clients including financial institutions and private equity firms.

His responsibilities included the placement and servicing of predominately Fortune 500 and large/mega cap business in the executive liability arena.

Lakin joins Lockton after more than 17 years with Marsh, most recently serving as senior vice president and team leader for the broker’s New York City Commercial FINPRO team.

More than 4,100 professionals at Lockton provide more than 15,000 clients around the world with insurance, benefits, and risk management services, offering an uncommon level of client service.