Peter Zaffino Named Chief Executive Officer of ...
Media:
MMC
Christine Walton, 212-345-0675
christine.walton@mmc.com
or
Guy Carpenter
Alexis Levenson, 917-937-3264
alexis.levenson@guycarp.com
or
Investors:
MMC
Mike Bischoff, 212-345-5470
jmichael.bischoff@mmc.com
Britt Newhouse Named Chairman
Marsh & McLennan Companies, Inc. (MMC) today announced a change in leadership at
its Guy Carpenter & Co., LLC, reinsurance services subsidiary.
Peter Zaffino has been named Chief Executive Officer of Guy Carpenter,
succeeding David Spiller in this position. MMC has also appointed Britt Newhouse
as Chairman of Guy Carpenter. Both appointments are effective immediately. Both
Mr. Zaffino and Mr. Newhouse will report directly to Brian Duperreault,
President and Chief Executive Officer of MMC.
'In Peter and Britt, we have a wealth of reinsurance industry knowledge and
experience,' Mr. Duperreault said. 'They have contributed enormously to Guy
Carpenter's success over the years, and have demonstrated their leadership
abilities most recently by guiding the firm through today's soft market
conditions. I look forward to working closely with them both in their new
roles.'
Mr. Zaffino joined Guy Carpenter in 2001. Prior to his current role as Executive
Vice President and Head of U.S. Treaty Operations, he was responsible for treaty
operations for Guy Carpenter's U.S. Eastern Region and prior to that led the
global Specialty Practices. Before joining Guy Carpenter, he served in an
executive role with a GE Capital Services company specializing in casualty
treaty reinsurance and oversaw all treaty production and underwriting.
Mr. Newhouse joined Guy Carpenter in 1979, in the firm's New York Casualty
Treaty Department. In his current role as President of the Americas broking
operations and is a member of the firm's Executive Committee. Previously, he
headed the U.S. Eastern Region and served as the New York Branch Manager. Prior
to joining Guy Carpenter, Mr. Newhouse began his career as an underwriter with
AIG.
Guy Carpenter & Company, LLC is the world's leading risk and reinsurance
specialist. Guy Carpenter creates and executes reinsurance solutions and makes
available capital market solutions* for clients worldwide through 2,600
professionals across the globe. The firm's full breadth of services includes 16
centers of excellence in Accident & Health, Agriculture, Alternative Risk
Transfer, Environmental, General Casualty, Investment Banking*, Life & Annuity,
Marine & Energy, Professional Liability, Program Manager Solutions, Property,
Retrocessional, Structured Risk, Surety, Terror Risk, and Workers Compensation.
In addition, Guy Carpenter's Instrat(R) unit utilizes industry-leading
quantitative skills and modeling tools that optimize the reinsurance
decision-making process and help make the firm's clients more successful. Guy
Carpenter's website address is www.guycarp.com.
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; Mercer, the provider of HR and related financial advice and
services; Oliver Wyman, the management consultancy; and Kroll, the risk
consulting firm. With more than 55,000 employees worldwide and annual revenue
exceeding $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.
* Securities or investments, as applicable, are offered in the United States
through GC Securities, a division of MMC Securities Corp., a US registered
broker-dealer and member FINRA/SIPC. Main Office: 1166 Avenue of the Americas,
New York, NY 10036. Phone: (212) 345-5000. Advice on securities or investments
in the European Union is provided through GC Securities Ltd., authorized and
regulated by the Financial Services Authority. Reinsurance products are placed
through qualified affiliates of Guy Carpenter. MMC Securities Corp., GC
Securities Ltd. and Guy Carpenter are affiliates owned by Marsh & McLennan
Companies.
This press release contains 'forward-looking statements,' as defined in the
Private Securities Litigation Reform Act of 1995. These statements, which
express management's current views concerning future events or results, use
words like 'anticipate,' 'assume,' 'believe,' 'continue,' 'estimate,' 'expect,'
'intend,' 'plan,' 'project' and similar terms, and future or conditional tense
verbs like 'could,' 'may,' 'might,' 'should,' 'will' and 'would.' For example,
we may use forward-looking statements when addressing topics such as: future
actions by regulators; the outcome of contingencies; changes in senior
management; changes in our business strategies and methods of generating
revenue; the development and performance of our services and products; market
and industry conditions, including competitive and pricing trends; changes in
the composition or level of MMC's revenues; our cost structure and the outcome
of restructuring and other cost-saving initiatives; share repurchase programs;
the expected impact of acquisitions and dispositions; and MMC's cash flow and
liquidity.
Forward-looking statements are subject to inherent risks and uncertainties. MMC
and its subsidiaries operate in a dynamic business environment in which new
risks may emerge frequently. Accordingly, MMC cautions readers not to place
undue reliance on its forward-looking statements, which speak only as of the
dates on which they are made. MMC undertakes no obligation to update or revise
any forward-looking statement to reflect events or circumstances arising after
the date on which it is made. Further information concerning MMC and its
businesses, including information about factors that could materially affect our
results of operations and financial condition, is contained in MMC's filings
with the Securities and Exchange Commission, including the 'Risk Factors'
section of MMC's annual report on Form 10-K for the year ended December 31,
2006.
-0-
*T
Media:
MMC
Christine Walton, 212-345-0675
christine.walton@mmc.com
or
Guy Carpenter
Alexis Levenson, 917-937-3264
alexis.levenson@guycarp.com
or
Investors:
MMC
Mike Bischoff, 212-345-5470
jmichael.bischoff@mmc.com
*T
Latest directors dealings
- 12 minutes ago ASA International Group
- 1 hour ago Central Asia Metals
- 1 hour ago Orosur Mining Inc
- 1 hour ago Emv Capital
- 1 hour ago Power Probe PLC