Marsh & McLennan Companies, Inc. (MMC) is a US-based global professional services and insurance brokerage firm. In 2007, it had over 57,000 employees and annual revenues of $10.49 billion. During that time it was successfully charged with bid rigging which resulted in settlements of close to $1b. Marsh & McLennan Companies was ranked the 221st largest corporation in the United States by the 2009 Fortune 500 list, and the 5th largest U.S. company in the diversified financial industry. It has its headquarters in Midtown Manhattan, New York City.
Marsh & McLennan Companies, Inc. is a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital. The Company is the parent company of a number of risk experts and specialty consultants, including Marsh, the insurance broker, intermediary and risk advisor; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resources (HR) and related financial advice and services, and Oliver Wyman Group, the management and economic consultancy. The Company conducts business through two operating segments: Risk and Insurance Services, which includes risk management activities (risk advice, risk transfer and risk control and mitigation solutions), as well as insurance and reinsurance broking and services, and Consulting, which includes HR consulting and related outsourcing and investment services, and specialized management and economic consulting services. On August 3, 2010, the Company completed the sale of, Kroll Inc. (Kroll).
Risk and Insurance Services
The Risk and Insurance Services segment generated approximately 54% of the Company’s total operating segment revenue during the year ended December 31, 2010, Risk and Insurance Services consists of Marsh and Guy Carpenter. Marsh delivers risk and insurance services and solutions to its clients. During 2010, Marsh generated approximately 45% of its total operating segment revenue. Over 25,000 Marsh colleagues provide risk management, risk consulting, insurance broking, alternative risk financing, and insurance program management services to a range of businesses, government entities and professional service organizations worldwide in more than 100 countries. Product and service offerings in its insurance broking and risk consulting business include design and placement, post-placement program support and administration, claims advocacy, and an array of risk analysis and risk management consulting services. These include Multinational Client Service, Marsh Risk Consulting, Risk, Specialty and Industry Practices, Bowring Marsh, Consumer Operations, Marsh & McLennan Agency, Captive Solutions, Schinnerer Group and Marsh Client Technologies.
Guy Carpenter generated approximately 9% of its total operating segment revenue during 2010. Over 2,000 Guy Carpenter professionals create and execute reinsurance and risk management solutions for clients worldwide, by providing risk assessment analytics, actuarial services, specialized product knowledge and trading relationships with reinsurance markets. Client services also include contract and claims management and fiduciary accounting. Guy Carpenter has two types of property and casualty reinsurance includes treaty reinsurance, which involves the transfer of a portfolio of risks, and facultative reinsurance, which entails the transfer of part or all of the coverage provided by a single insurance policy.
Guy Carpenter also provides reinsurance services in a range of specialty practice areas, including agriculture; alternative risk transfer (such as group-based captives and insurance pools); aviation and aerospace; casualty clash (losses involving multiple policies or insureds); construction and engineering; credit, bond and political risk; excess and umbrella; general casualty; life, accident and health; marine and energy; medical professional liability; professional liability; program manager solutions; property; retrocessional reinsurance (reinsurance between reinsurers); surety (reinsurance of surety bonds and other financial guarantees), and terror risk and workers compensation. Guy Carpenter also offers clients alternatives to traditional reinsurance, including industry loss warranties and, through its affiliates, capital markets alternatives, such as transferring catastrophe risk through the issuance of risk-linked securities. In addition, Guy Carpenter provides its clients with numerous reinsurance-related services, such as actuarial, enterprise risk management, financial and regulatory consulting, portfolio analysis and advice. Guy Carpenter’s GC Analytics unit serves as a local resource understand and quantify the uncertainties inherent in their businesses.
Consulting
The Company’s consulting segment generated approximately 46% of its total operating segment revenue during 2010. The Company conducts business in this segment through Mercer and Oliver Wyman Group. Mercer is a provider of HR consulting and related outsourcing and investment services. During 2010, Mercer generated approximately 33% of the Company’s total operating segment revenue. Mercer operates in areas, including retirement, risk and finance consulting, health and benefits, rewards, talent and communications, outsourcing, and investment consulting and management.
In retirement, risk and finance consulting, Mercer provides a range of compliance-related retirement services and solutions to corporate, governmental and institutional clients. In its health and benefits business, Mercer helps public and private sector employers in the design, management and administration of employee health care programs; compliance with local benefits-related regulations, and the establishment of health and welfare benefits coverage for employees. Mercer’s rewards, talent and communications businesses advises organizations on the engagement, management and rewarding of employees; the design of executive remuneration programs, and improvement of HR. Through its outsourcing business, Mercer provides benefits administration services to clients globally. Mercer provides investment consulting and management services to the fiduciaries of pension funds, foundations, endowments and other investors in more than 35 countries.
The acquisition push was followed by a streamlining of operations. A Global Broking Centre, based in London, was to link insurance wholesale offices and insurance underwriters around the world, facilitating the sharing of information by all the pertinent players, and easing large capacity property/casualty transactions for both U.S. and foreign clients. In a related move, MMC separated its large U.S. risk management accounts from its middle-market insurance brokerage clients--those without full-time risk managers. The move marked the beginning of a concerted push to gain more business in this mid-range area.
The consulting division, now called Mercer Consulting Group Inc., also made some changes in the early 1990s, selling off an environmental consulting operation. Remaining in the division in 1994 were: William M. Mercer, the world's largest actuarial and employee benefits consulting and human resource management firm; Mercer Management Consulting Inc., a corporate strategy and management consulting company; and the economics consulting firm, National Economic Research Associates Inc. About 65 percent of the consulting division's revenue, which remained flat during the period, came from U.S. accounts.
The company's U.S. insurance operation stagnated along with the rest of the industry during the mid-1990s, though there were some bright spots. In 1995, MMC's domestic middle-market segment, responding to aggressive marketing, showed strong growth. Overseas operations also showed strong growth, especially in the Pacific Rim. But overall, insurance revenue rose just 4 percent on the year.
In addition to flat or falling markets, insurers had to contend with other changes taking place within the industry, such as product line integration and insurance firm consolidation. MMC looked internally for answers. To counteract a blurring of lines between who sold what types of insurance, MMC restructured operations in an effort to better define its products for customers. In order to boost the reinsurance business, hurt by a drop in the number of insurance companies to which to sell its products, MMC created Risk Capital Insurance Company. The new unit differentiated itself by investing much of its resources in the stock of companies it served.
Resurgence in the Late 1990s
In 1996, after more than 20 years at the top of the worldwide insurance brokerage business, MMC was surpassed by Aon Corporation when the Chicago based competitor purchased Alexander & Alexander.
"Its army of brokers and consultants has been regarded as the best in the business. And the company has consistently recorded double-digit earnings growth," wrote Judy Temes for Crain's New York Business in 1997. "But suddenly, being good isn't good enough. The $4 billion giant--spread across the insurance, management consulting and mutual funds businesses--is finding itself on the defensive."
MMC's focus on internal growth, cost cutting measures, and technological improvements could not outstrip a decade of troubles in the insurance industry. Additionally, the company's six-year attempt to gain more of the higher-margin strategic consulting business had floundered, leaving Putnam to drive earnings growth. Consequently, MMC found its stock undervalued on the market and heard calls for a spinoff of the highly profitable financial management segment, a move which would benefit stockholders.
Marsh responded by purchasing some top notch businesses, first paying $200 million for the leading French insurance brokerage. The company followed up with the buyout of Johnson & Higgins in 1997 and Sedgwick Group PLC in 1998, a boon to middle-market business. MMC trimmed back its insurance-related purchases in 1999 but planned for more acquisitions in the consulting area.
Leadership changed hands in 1999. Jeffrey W. Greenberg was named CEO in November and then chairman of the board in May 2000; he succeeded A.J.C. Smith. Greenberg had a heady first 16 months at the helm, with the stock price rising 60 percent and high profile managers joining the ranks. Also, MMC Enterprise Risk, a cutting edge operation drawing on expertise throughout MMC, was launched and poised to offer integrated risk management services.
In terms of numbers, revenue topped the $10 billion mark in 2000, and net income rose by 23 percent to $1.2 billion. Marsh produced about half the total revenues, followed by Putnam with one-third, and the rest from Mercer. Greenberg would have to stay on his toes though, with the economy slowing and the stock market fluctuating.
Thus, MMC embarked on the new century back on the top of its core business sector, and importantly, insurance prices had headed upward: a trend which boded well for Marsh since its revenue came from rate sensitive commissions and negotiated fees. Moreover, the consolidation binge of the 1990s had produced two mega-insurance brokerages. Between them, Marsh and Aon generated 73 percent of all the revenue produced by the top ten companies in the industry. Conflicting views circulated as to whether or not this was a good thing.
An Uncertain New World: 2001 and Beyond
The unimaginable happened on September 11, 2001. More than 300 MMC employees--primarily people working in accounting and information technology--were among those killed when New York's twin World Trade Center towers were destroyed. MMC, like the many other businesses directly affected, had to go on despite the horror.
In late September, MMC Capital Inc. announced the formation of Axis Specialty Ltd., a new insurer to be based in Bermuda. The unit would write insurance and reinsurance coverage in such areas as "all-peril property, aviation, war, political risk," which were deemed underserved, according to a report by David Pilla for A.M Best Newswire.
Meanwhile, commercial insurance rates, particularly in the hard-hit airline industry, skyrocketed. Property-insurance rates, already on the rise, also climbed, but less steeply. Workers' compensation increases were expected as well.
One month after the disaster, MMC announced the formation of a crisis-consulting practice. L. Paul Bremer, former ambassador-at-large for counterterrorism during President Reagan's administration, would head the operation.
Principal Subsidiaries: Marsh Inc.; Mercer Consulting Group Inc.; Putnam Investments, Inc.; MMC Capital Inc.; and MMC Enterprise Risk Inc.
Principal Competitors: Aon Corporation; Arthur J. Gallagher & Co.; Willis Group Holdings Limited.
OVERALL
Beta: 0.72
Market Cap (Mil.): $16,427.03
Shares Outstanding (Mil.): 548.48
Annual Dividend: 0.84
Yield (%): 2.80
FINANCIALS
MMC Industry Sector
P/E (TTM): 28.06 23.77 25.17
EPS (TTM): -7.03 -- --
ROI: 5.11 5.82 4.73
ROE: 9.33 11.05 9.37
Statistics:
Public Company
Incorporated: 1923 as Marsh & McLennan, Incorporated
Employees: 57,000
Total Assets: $13.76 billion (2000)
Stock Exchanges: New York Boston Chicago Pacific
Ticker Symbol: MMC
NAIC: 52421 Insurance Agencies & Brokerages
Key Dates:
1989: Henry Marsh partners with a fellow employee to buy controlling interest of a Chicago-based insurance company.
1901: Marsh pioneers modern-day self-insurance and risk management concepts in deal with United States Steel Corporation.
1906: Railroad insurance expert Donald McLennan and Marsh form a partnership.
1923: Marsh & McLennan (M&M) incorporates.
1947: Ford Motor Company selects M&M to handle all its insurance.
1957: Merger with the West Coast's largest broker, Cosgrove & Company, kicks off series of domestic and international acquisitions.
1962: M&M stock is taken public.
1970: Purchase of Putnam Management Company marks move toward diversification.
1975: Name is changed to Marsh & McLennan Companies, Inc. (MMC).
1980: MMC is established as global company with takeover of London brokerage firm C.T. Bowring.
1996: Rival firm Aon Corporation bumps MMC from position as top insurance brokerage.
2000: MMC, aided by addition of top-grade firms, enters new millennium in position of global market dominance.
2001: Company is one of hardest hit in destruction of World Trade Center
Name Age Since Current Position
Hardis, Stephen 75 2006 Independent Chairman of the Board
Duperreault, Brian 63 2008 President, Chief Executive Officer, Director
Nadler, David 62 2007 Vice Chairman, Office of the CEO
Wittman, Vanessa 43 2008 Chief Financial Officer, Executive Vice President
Burns, M. Michele 53 2006 Chairman and Chief Executive Officer of Mercer
Drzik, John 48 2006 President and Chief Executive Officer of Oliver Wyman Group
Zaffino, Peter 44 2011 President and Chief Executive Officer of Marsh
Moczarski, Alexander 55 2011 President and Chief Executive of Guy Carpenter
Glaser, Daniel 50 2011 Group President, Chief Operating Officer
Beshar, Peter 49 2005 Executive Vice President, General Counsel
Gilbert, E. Scott 55 2005 Senior Vice President, Chief Compliance Officer
Ashford, Orlando 42 2008 Senior Vice President - Human Resources
Allen, Benjamin 46 2011 Chief Innovation Officer
Lang, Ian 70 1997 Independent Director
Simmons, Adele 69 1978 Independent Director
King, Gwendolyn 70 1998 Independent Director
Fanjul, Oscar 61 2001 Independent Director
Schapiro, Morton 57 2002 Independent Director
Carter, Zachary 61 2004 Independent Director
Baker, Leslie 67 2006 Independent Director
Oken, Mark 64 2006 Independent Director
Nolop, Bruce 60 2008 Independent Director
Hanway, H. Edward 59 2010 Independent Director
Mills, Steven 59 2011 Independent Director
Yates, Lloyd 50 2011 Independent Director
Address:
1166 Avenue of the Americas
New York, New York 10036-2774
U.S.A.
Marsh & McLennan Companies, Inc. is a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital. The Company is the parent company of a number of risk experts and specialty consultants, including Marsh, the insurance broker, intermediary and risk advisor; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of human resources (HR) and related financial advice and services, and Oliver Wyman Group, the management and economic consultancy. The Company conducts business through two operating segments: Risk and Insurance Services, which includes risk management activities (risk advice, risk transfer and risk control and mitigation solutions), as well as insurance and reinsurance broking and services, and Consulting, which includes HR consulting and related outsourcing and investment services, and specialized management and economic consulting services. On August 3, 2010, the Company completed the sale of, Kroll Inc. (Kroll).
Risk and Insurance Services
The Risk and Insurance Services segment generated approximately 54% of the Company’s total operating segment revenue during the year ended December 31, 2010, Risk and Insurance Services consists of Marsh and Guy Carpenter. Marsh delivers risk and insurance services and solutions to its clients. During 2010, Marsh generated approximately 45% of its total operating segment revenue. Over 25,000 Marsh colleagues provide risk management, risk consulting, insurance broking, alternative risk financing, and insurance program management services to a range of businesses, government entities and professional service organizations worldwide in more than 100 countries. Product and service offerings in its insurance broking and risk consulting business include design and placement, post-placement program support and administration, claims advocacy, and an array of risk analysis and risk management consulting services. These include Multinational Client Service, Marsh Risk Consulting, Risk, Specialty and Industry Practices, Bowring Marsh, Consumer Operations, Marsh & McLennan Agency, Captive Solutions, Schinnerer Group and Marsh Client Technologies.
Guy Carpenter generated approximately 9% of its total operating segment revenue during 2010. Over 2,000 Guy Carpenter professionals create and execute reinsurance and risk management solutions for clients worldwide, by providing risk assessment analytics, actuarial services, specialized product knowledge and trading relationships with reinsurance markets. Client services also include contract and claims management and fiduciary accounting. Guy Carpenter has two types of property and casualty reinsurance includes treaty reinsurance, which involves the transfer of a portfolio of risks, and facultative reinsurance, which entails the transfer of part or all of the coverage provided by a single insurance policy.
Guy Carpenter also provides reinsurance services in a range of specialty practice areas, including agriculture; alternative risk transfer (such as group-based captives and insurance pools); aviation and aerospace; casualty clash (losses involving multiple policies or insureds); construction and engineering; credit, bond and political risk; excess and umbrella; general casualty; life, accident and health; marine and energy; medical professional liability; professional liability; program manager solutions; property; retrocessional reinsurance (reinsurance between reinsurers); surety (reinsurance of surety bonds and other financial guarantees), and terror risk and workers compensation. Guy Carpenter also offers clients alternatives to traditional reinsurance, including industry loss warranties and, through its affiliates, capital markets alternatives, such as transferring catastrophe risk through the issuance of risk-linked securities. In addition, Guy Carpenter provides its clients with numerous reinsurance-related services, such as actuarial, enterprise risk management, financial and regulatory consulting, portfolio analysis and advice. Guy Carpenter’s GC Analytics unit serves as a local resource understand and quantify the uncertainties inherent in their businesses.
Consulting
The Company’s consulting segment generated approximately 46% of its total operating segment revenue during 2010. The Company conducts business in this segment through Mercer and Oliver Wyman Group. Mercer is a provider of HR consulting and related outsourcing and investment services. During 2010, Mercer generated approximately 33% of the Company’s total operating segment revenue. Mercer operates in areas, including retirement, risk and finance consulting, health and benefits, rewards, talent and communications, outsourcing, and investment consulting and management.
In retirement, risk and finance consulting, Mercer provides a range of compliance-related retirement services and solutions to corporate, governmental and institutional clients. In its health and benefits business, Mercer helps public and private sector employers in the design, management and administration of employee health care programs; compliance with local benefits-related regulations, and the establishment of health and welfare benefits coverage for employees. Mercer’s rewards, talent and communications businesses advises organizations on the engagement, management and rewarding of employees; the design of executive remuneration programs, and improvement of HR. Through its outsourcing business, Mercer provides benefits administration services to clients globally. Mercer provides investment consulting and management services to the fiduciaries of pension funds, foundations, endowments and other investors in more than 35 countries.
The acquisition push was followed by a streamlining of operations. A Global Broking Centre, based in London, was to link insurance wholesale offices and insurance underwriters around the world, facilitating the sharing of information by all the pertinent players, and easing large capacity property/casualty transactions for both U.S. and foreign clients. In a related move, MMC separated its large U.S. risk management accounts from its middle-market insurance brokerage clients--those without full-time risk managers. The move marked the beginning of a concerted push to gain more business in this mid-range area.
The consulting division, now called Mercer Consulting Group Inc., also made some changes in the early 1990s, selling off an environmental consulting operation. Remaining in the division in 1994 were: William M. Mercer, the world's largest actuarial and employee benefits consulting and human resource management firm; Mercer Management Consulting Inc., a corporate strategy and management consulting company; and the economics consulting firm, National Economic Research Associates Inc. About 65 percent of the consulting division's revenue, which remained flat during the period, came from U.S. accounts.
The company's U.S. insurance operation stagnated along with the rest of the industry during the mid-1990s, though there were some bright spots. In 1995, MMC's domestic middle-market segment, responding to aggressive marketing, showed strong growth. Overseas operations also showed strong growth, especially in the Pacific Rim. But overall, insurance revenue rose just 4 percent on the year.
In addition to flat or falling markets, insurers had to contend with other changes taking place within the industry, such as product line integration and insurance firm consolidation. MMC looked internally for answers. To counteract a blurring of lines between who sold what types of insurance, MMC restructured operations in an effort to better define its products for customers. In order to boost the reinsurance business, hurt by a drop in the number of insurance companies to which to sell its products, MMC created Risk Capital Insurance Company. The new unit differentiated itself by investing much of its resources in the stock of companies it served.
Resurgence in the Late 1990s
In 1996, after more than 20 years at the top of the worldwide insurance brokerage business, MMC was surpassed by Aon Corporation when the Chicago based competitor purchased Alexander & Alexander.
"Its army of brokers and consultants has been regarded as the best in the business. And the company has consistently recorded double-digit earnings growth," wrote Judy Temes for Crain's New York Business in 1997. "But suddenly, being good isn't good enough. The $4 billion giant--spread across the insurance, management consulting and mutual funds businesses--is finding itself on the defensive."
MMC's focus on internal growth, cost cutting measures, and technological improvements could not outstrip a decade of troubles in the insurance industry. Additionally, the company's six-year attempt to gain more of the higher-margin strategic consulting business had floundered, leaving Putnam to drive earnings growth. Consequently, MMC found its stock undervalued on the market and heard calls for a spinoff of the highly profitable financial management segment, a move which would benefit stockholders.
Marsh responded by purchasing some top notch businesses, first paying $200 million for the leading French insurance brokerage. The company followed up with the buyout of Johnson & Higgins in 1997 and Sedgwick Group PLC in 1998, a boon to middle-market business. MMC trimmed back its insurance-related purchases in 1999 but planned for more acquisitions in the consulting area.
Leadership changed hands in 1999. Jeffrey W. Greenberg was named CEO in November and then chairman of the board in May 2000; he succeeded A.J.C. Smith. Greenberg had a heady first 16 months at the helm, with the stock price rising 60 percent and high profile managers joining the ranks. Also, MMC Enterprise Risk, a cutting edge operation drawing on expertise throughout MMC, was launched and poised to offer integrated risk management services.
In terms of numbers, revenue topped the $10 billion mark in 2000, and net income rose by 23 percent to $1.2 billion. Marsh produced about half the total revenues, followed by Putnam with one-third, and the rest from Mercer. Greenberg would have to stay on his toes though, with the economy slowing and the stock market fluctuating.
Thus, MMC embarked on the new century back on the top of its core business sector, and importantly, insurance prices had headed upward: a trend which boded well for Marsh since its revenue came from rate sensitive commissions and negotiated fees. Moreover, the consolidation binge of the 1990s had produced two mega-insurance brokerages. Between them, Marsh and Aon generated 73 percent of all the revenue produced by the top ten companies in the industry. Conflicting views circulated as to whether or not this was a good thing.
An Uncertain New World: 2001 and Beyond
The unimaginable happened on September 11, 2001. More than 300 MMC employees--primarily people working in accounting and information technology--were among those killed when New York's twin World Trade Center towers were destroyed. MMC, like the many other businesses directly affected, had to go on despite the horror.
In late September, MMC Capital Inc. announced the formation of Axis Specialty Ltd., a new insurer to be based in Bermuda. The unit would write insurance and reinsurance coverage in such areas as "all-peril property, aviation, war, political risk," which were deemed underserved, according to a report by David Pilla for A.M Best Newswire.
Meanwhile, commercial insurance rates, particularly in the hard-hit airline industry, skyrocketed. Property-insurance rates, already on the rise, also climbed, but less steeply. Workers' compensation increases were expected as well.
One month after the disaster, MMC announced the formation of a crisis-consulting practice. L. Paul Bremer, former ambassador-at-large for counterterrorism during President Reagan's administration, would head the operation.
Principal Subsidiaries: Marsh Inc.; Mercer Consulting Group Inc.; Putnam Investments, Inc.; MMC Capital Inc.; and MMC Enterprise Risk Inc.
Principal Competitors: Aon Corporation; Arthur J. Gallagher & Co.; Willis Group Holdings Limited.
OVERALL
Beta: 0.72
Market Cap (Mil.): $16,427.03
Shares Outstanding (Mil.): 548.48
Annual Dividend: 0.84
Yield (%): 2.80
FINANCIALS
MMC Industry Sector
P/E (TTM): 28.06 23.77 25.17
EPS (TTM): -7.03 -- --
ROI: 5.11 5.82 4.73
ROE: 9.33 11.05 9.37
Statistics:
Public Company
Incorporated: 1923 as Marsh & McLennan, Incorporated
Employees: 57,000
Total Assets: $13.76 billion (2000)
Stock Exchanges: New York Boston Chicago Pacific
Ticker Symbol: MMC
NAIC: 52421 Insurance Agencies & Brokerages
Key Dates:
1989: Henry Marsh partners with a fellow employee to buy controlling interest of a Chicago-based insurance company.
1901: Marsh pioneers modern-day self-insurance and risk management concepts in deal with United States Steel Corporation.
1906: Railroad insurance expert Donald McLennan and Marsh form a partnership.
1923: Marsh & McLennan (M&M) incorporates.
1947: Ford Motor Company selects M&M to handle all its insurance.
1957: Merger with the West Coast's largest broker, Cosgrove & Company, kicks off series of domestic and international acquisitions.
1962: M&M stock is taken public.
1970: Purchase of Putnam Management Company marks move toward diversification.
1975: Name is changed to Marsh & McLennan Companies, Inc. (MMC).
1980: MMC is established as global company with takeover of London brokerage firm C.T. Bowring.
1996: Rival firm Aon Corporation bumps MMC from position as top insurance brokerage.
2000: MMC, aided by addition of top-grade firms, enters new millennium in position of global market dominance.
2001: Company is one of hardest hit in destruction of World Trade Center
Name Age Since Current Position
Hardis, Stephen 75 2006 Independent Chairman of the Board
Duperreault, Brian 63 2008 President, Chief Executive Officer, Director
Nadler, David 62 2007 Vice Chairman, Office of the CEO
Wittman, Vanessa 43 2008 Chief Financial Officer, Executive Vice President
Burns, M. Michele 53 2006 Chairman and Chief Executive Officer of Mercer
Drzik, John 48 2006 President and Chief Executive Officer of Oliver Wyman Group
Zaffino, Peter 44 2011 President and Chief Executive Officer of Marsh
Moczarski, Alexander 55 2011 President and Chief Executive of Guy Carpenter
Glaser, Daniel 50 2011 Group President, Chief Operating Officer
Beshar, Peter 49 2005 Executive Vice President, General Counsel
Gilbert, E. Scott 55 2005 Senior Vice President, Chief Compliance Officer
Ashford, Orlando 42 2008 Senior Vice President - Human Resources
Allen, Benjamin 46 2011 Chief Innovation Officer
Lang, Ian 70 1997 Independent Director
Simmons, Adele 69 1978 Independent Director
King, Gwendolyn 70 1998 Independent Director
Fanjul, Oscar 61 2001 Independent Director
Schapiro, Morton 57 2002 Independent Director
Carter, Zachary 61 2004 Independent Director
Baker, Leslie 67 2006 Independent Director
Oken, Mark 64 2006 Independent Director
Nolop, Bruce 60 2008 Independent Director
Hanway, H. Edward 59 2010 Independent Director
Mills, Steven 59 2011 Independent Director
Yates, Lloyd 50 2011 Independent Director
Address:
1166 Avenue of the Americas
New York, New York 10036-2774
U.S.A.