Deals and People January 3, 2008

Marsh Reportedly Set for Exec Reshuffling

January 3, 2008 (PLANSPONSOR.com) - Marsh & McLennan Cos.' Insurance brokerage unit is expected to undergo a major reshuffling by its new head, according to unnamed sources quoted by Reuters.
Reported by

According to Reuters, Dan Glaser’s reported reorganization will include the departure of Phil Moyles, currently chief executive of the American brokerage operation, and also Mark Feuer, its chief operating officer (See NewsDash – October 2).

Moyles had been touted by departing Marsh & McLennan CEO Michael Cherkasky as one of the three leaders who would resurrect the brokerage operation after its setbacks. Cherkasky agreed to step aside in late 2007, but will continue in the top post until a replacement is identified (See MMC Shuffles out CEO ).

Alex Moczarski, known for improving the international operations in the past year, will be running all operations outside the Americas. Other operations, including the company’s Mercer and Kroll consulting units, will not be affected, sources said.

A new appointment to head American operations was expected be named later on Thursday, according to the sources.

On Thursday afternoon, Marsh announced changes to its global organizational structure as well as several senior management appointments.

“Simplifying the current structure will enable Marsh to reduce complexity and improve efficiencies within the organization,” said Daniel S. Glaser, chief executive officer of Marsh, who joined the firm last month, in the press release .

Key components of the reorganization identified were:

  • Marsh’s global insurance broking business will be consolidated into two geographic divisions: U.S./Canada and International. As part of this combination, Marsh also announced that Joseph M. McSweeny, most recently of Willis Group Holdings, has joined Marsh and will serve as President of the U.S./Canada Division.
  • Alexander Moczarski, currently chief executive officer of the Europe, Middle East and Africa (EMEA) region, was named President of the International Division. He will relocate to New York from London.
  • Alexander W. (Sandy) Vietor, who joined Marsh in December, will serve as president of Marsh’s Global Specialties.
  • Timothy J. Mahoney will lead the enhanced Global Risk Management (GRM) unit, into which the industry practices will now report.
  • Henry S. Allen continues to lead the Global Consumer Division as president.

These executives report directly to Glaser, according to the firm.

«