Marsh strengthens global risk management organization to meet complex needs of large clients

24/04/2008

Marsh, the world's leading insurance broker and risk advisor, today announced the organizational structure of its Global Risk Management Division, which serves the firm's largest and most complex clients around the world. Marsh also established priorities for enhancing the firm's capabilities in this area.

"Marsh has always been distinguished by its ability to provide large clients with innovative solutions to their risk issues and to deliver industry leading services on a global basis," said Timothy J. Mahoney, Jr., president, Global Risk Management. "As the global business environment evolves and presents increasingly complex challenges for clients, we are constantly evaluating and upgrading our capabilities to provide the tools and resources clients need to anticipate and address their emerging risk challenges."

The major elements and key initiatives of Marsh’s Global Risk Management organization include :

– The creation of a global leadership structure, with regional leaders Peter Cleyn, for Canada; Andrew Perry, Latin America; George Davies, UK; Bruce Trigg, Central Europe, Middle East, and Africa; Bruce Gordon and George Tarabaras, Pacific region, and Michael Johnson in Asia. In addition to his global responsibilities, Mr. Mahoney will serve as the Division’s U.S. leader on an interim basis.
– The establishment of a Multinational Practice led by Howard B. Whitmore. The Practice will coordinate Marsh’s delivery of insurance brokerage and risk consulting services for clients operating in all parts of the world.
– Effective worldwide deployment of Marsh’s global and regional Industry Practices under the leadership of James M. Enelow to deliver specialized risk solutions to clients in major industry sectors anywhere in the world.
– The creation of Product Management under the leadership of William D. (Kip) Irle II to hone the firm’s ability to identify clients’ global risk challenges and opportunities, develop new products and solutions to address those needs, and deliver solutions to clients.
– The roll-out of enhanced capabilities of Marsh’s online client interface, MarshConnect, including fast-tracking the expansion of Marsh’s online policy management system, which provides clients instant access to country-specific regulatory and insurance-related tax requirements.
– A Regulatory & Tax Practice providing clients real-time information on evaluating risk and regulations around the world.
– The firm’s G5 initiative, which serves the firm’s largest global clients, will remain the cornerstone of Marsh’s Global Risk Management structure and serve as the platform for innovation, service enhancements, and prioritization of all risk management initiatives.

Marsh has 26,000 employees and provides advice and transactional capabilities to clients in over 100 countries. Marsh is a unit of Marsh & McLennan Companies (MMC), a global professional services firm with more than 55,000 employees and annual revenue exceeding $11 billion. MMC also is the parent company of 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. MMC’s stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges. MMC’s Web Site is www.mmc.com