Brian Duperreault to retire from Marsh & McLennan Companies

Marsh & McLennan Companies (MMC) has announced the retirement of president and chief executive Brian Duperreault.

Dan Glaser, currently the company’s group president and chief operating officer, has been named as Duperreault’s successor and will become president and chief executive as of 1 January 2013.

MMC is the parent of insurance broker Marsh and reinsurance broker Guy Carpenter.

Glaser said: “It’s an honour to succeed Brian as president and chief executive of MMC, 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 organisation.”

On his retirement, Duperreault will also stand down from the company’s board of directors.

Duperrault’s insurance industry career spans almost 40 years. Prior to his role with MMC, he was chief executive of ACE Ltd and also served in senior executive positions with AIG.

He said: “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 MMC 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 capitalise on the strengths of MMC to deliver superior value to its clients, employees and shareholders. I want to thank the board for its unwavering support over the last few years and I look forward to completing a seamless transition to Dan by year end.”