Brian Duperreault to retire as president and CEO of Marsh & McLennan Companies

Brian Duperreault will retire as president and CEO of Marsh & McLennan Companies Inc. at the end of this year, the firm has announced.  Daniel S. Glaser, the current group president and COO, will be Duperreault’s successor as of Jan. 1, 2013.

“We are immensely grateful to Brian for the significant turnaround the company accomplished under his stewardship,” Lord Lang of Monkton, chairman of the company’s board of directors said in a statement.

“Among his many contributions to the company since joining in January 2008, Brian has built a strong executive team, significantly improved the company’s operating results, and established a long-term strategy that continues to serve as the foundation for the company’s future success. There is no doubt he will leave Marsh & McLennan Companies in a much stronger position than when he arrived,” he noted.

Duperreault has worked in the insurance industry for nearly 40 years and has held leadership roles at several prominent firms, including ACE Ltd. and AIG and its affiliates. He is also the chairman of the Federal Advisory Committee on Insurance (FACI) in the United States.

“It has been a privilege to serve as president and CEO of Marsh & McLennan Companies,” Duperreault said in a statement. “I am proud of what we have accomplished, largely due to the efforts of our leadership team and our dedicated colleagues around the world. Being part of the turnaround of Marsh & McLennan Companies has been one of the most gratifying aspects of my career. Dan and I have worked together very closely and I have full confidence that he will continue to capitalize on the strengths of Marsh & McLennan Companies to deliver superior value to its clients, employees and shareholders.”

Duperreault will also retire from the company’s board and Glaser will join as its director of Jan. 1.

Glaser has been group president and COO of the company since April 2011 and was responsible for strategic and operational oversight of its risk and insurance services and consulting segments of the business. He has previously held senior roles in commercial insurance and insurance brokerage in the U.S., Europe and Middle East. He is a former chairman of BritishAmerican Business and serves on its international advisory board. He is also a member of the board of trustees of the American Institute for Chartered Property Casualty Underwriters and the Board of Trustees of Ohio Wesleyan University.

“It’s an honor to succeed Brian as president and CEO of Marsh & McLennan Companies,” Glaser said in a statement. “I am thankful to the board and Brian for the confidence they have shown in me, and for the work they have done to position the company for continued growth and success. I look forward to working with our outstanding senior executive team and talented colleagues around the world as we continue to establish Marsh & McLennan Companies as an elite organization.”