Sears Tower To Be Named Willis Tower
The times, they are a changing.
The beloved Sears Tower in Chicago will soon be renamed the "Willis Tower" this summer.
The name change was agreed to as a lease term with Willis Group Holdings, (NYSE:WSH) a global insurance broker.
The company plans to consolidate 5 offices and transfer approximately 500 employees to work at the iconic building.
Joseph J. Plumeri, Chairman and Chief Executive Officer, Willis Group Holdings stated, "Having our name associated with Chicago's most iconic structure underscores our commitment to this great city, and recognizes Chicago's importance as a major financial hub and international business center. We are delighted to be making this bold move and firmly establishing our leading presence in one of the nation's biggest insurance markets, and it will be wonderful for all our Associates to work under one roof."
The newly named Willis Tower will also serve as headquarters for Willis Commercial, a business unit dedicated to serving the insurance needs of small and medium sized businesses.
The Sears Tower was completed in 1973 and is now the tallest skyscraper in the Western Hemisphere. It was originally commissioned by Sears, Roebuck and Company, but they haven't occupied the building since the early 1990's.
It's the fourth largest building in the world.
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