MMC Appoints Daniel S. Glaser as Chairman and C...
Leading Insurance Industry Executive to Join Marsh in December
Marsh & McLennan Companies, Inc.
Marsh & McLennan Companies, Inc. (MMC) today announced the appointment of Daniel
S. Glaser as Chairman and Chief Executive Officer of Marsh Inc., MMC's insurance
broking subsidiary. Mr. Glaser currently serves as Managing Director of AIG
Europe (U.K.) Limited and the Regional President of AIG's American International
Underwriters (AIU), UK/Ireland division. He joins Marsh on December 10, 2007.
Mr. Glaser began his career in the insurance industry as a Marsh broker in 1982.
He worked at Marsh for a decade, serving in roles in New York, London and Saudi
Arabia. Thereafter, he spent eight years at Willis, where he served as President
and Chief Operating Officer of Willis Risk Solutions, the large accounts
practice. In 2000, he joined AIG as President of the Global Energy Division and,
in 2002, was named Managing Director of AIG Europe (U.K.), AIU's largest
division.
'Dan has broad expertise in the insurance industry as well as first-hand
knowledge of the Marsh organization,' said Michael G. Cherkasky, MMC President
and Chief Executive Officer. 'His perspectives as both a broker and an
underwriter, coupled with his extensive international experience, make him the
ideal candidate to take Marsh forward.'
Mr. Glaser commented: 'In returning to Marsh, I will come full circle to the
start of my career in the insurance industry 25 years ago. During that time, I
have seen the strength and resiliency of the Marsh organization: it is a company
with great people, the strongest client base in the world and a bright future.
There are challenges and we must address them. There are also tremendous
opportunities, and with the support of thousands of Marsh employees, I intend to
move promptly to seize those opportunities.'
Mr. Glaser currently lives in London and will relocate to MMC's corporate
headquarters in New York. He will report to Mr. Cherkasky.
Marsh, the world's leading insurance broker and risk advisor, has 26,000
employees and provides advice and transactional capabilities to clients in over
100 countries. Marsh is a unit of MMC.
MMC is a global professional services firm providing advice and solutions in the
areas of risk, strategy and human capital. It is the parent company of a number
of the world's leading risk experts and specialty consultants, including Marsh,
the insurance broker and risk advisor; Guy Carpenter, the risk and reinsurance
specialist; Kroll, the risk consulting firm; Mercer, the provider of HR and
related financial advice and services; and Oliver Wyman, the management
consultancy. With more than 55,000 employees worldwide and annual revenue of $11
billion, MMC provides analysis, advice and transactional capabilities to clients
in more than 100 countries. Its stock (ticker symbol: MMC) is listed on the New
York, Chicago, and London stock exchanges. MMC's website address is www.mmc.com.
Media:
MMC
Christine Walton, 212-345-0675
christine.walton@mmc.com
or
Investor:
Mike Bischoff, 212-345-5470
jmichael.bischoff@mmc.com
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