Marsh McLennan names new chief executive and president as Daniel Glaser set to retire

Marsh McLennan has appointed John Doyle as its new chief executive and president, effective from 1 January 2023.

Doyle is currently group president and chief operating officer at Marsh and has been since January 2022. Prior to this, he was president and chief executive of the broker’s risk advisory and insurance solutions business from 2017 to 2021.

In his new role, Doyle will succeed chief executive and president Daniel Glaser, who will retire at the end of 2022 after serving almost a decade at the broker. He will also retire from serving on Marsh’s board of directors with Doyle taking on his position.

Edward Hanway, chairman of the Marsh McLennan board of directors, said: “Doyle has the full support of our board. He led Marsh to outstanding earnings and revenue growth and – as group president and chief operating officer – has found new ways to harness the collective strength of Marsh McLennan to deliver even greater impact with our clients, colleagues and communities.

“With his leadership, the company is well positioned for continued growth.”

Hanway called Doyle ”a terrific strategist and an exceptional leader” who builds effective, diverse and inclusive teams.

The best is yet to come

Glaser has served as chief executive and president of Marsh McLennan since January 2013 – prior to this he was group president and chief operating officer of Marsh. He initially joined Marsh McLennan in December 2007 as chairman and chief executive of Marsh, returning to the broker where he began his insurance career back in 1982.

Glaser said: “It’s been an honour to lead this great company. Very few 150-year-old firms are as relevant, resilient and successful as Marsh McLennan is today. I leave with the same thought I had the day I became chief executive – the best is yet to come for Marsh McLennan.”

Meanwhile, Hanway added: “Glaser has had an extraordinary impact on Marsh McLennan, shaping it into a modern, dynamic company. He expanded the business into new client segments, increased revenues from $12bn (£10.3bn) to over $20bn (£17.2bn) and grew the company’s colleague base.”

Hanway noted that Glaser successfully completed Marsh’s $5.6bn (£4.8bn) acquisition of JLT in 2019, launched Marsh McLennan Agency – which, in just over a decade, has grown to $2.5bn (£2.1bn) of annual revenue – and closed 100 acquisitions. 

Glaser continued: “Doyle has been an indispensable partner to me and the other members of our executive committee in delivering on our strategy. He knows our businesses well and is focused on creating best-in-class solutions for our clients. I am confident that this organisation’s extraordinary success will continue under Doyle’s leadership.”

Writing our next chapter

Doyle has more than 30 years of management experience in commercial insurance underwriting and broking.

He began his career at AIG and held several executive positions at the insurer, including chief executive of AIG Commercial Insurance and president and chief executive of AIG Property and Casualty in the US.

Doyle said: “We have terrific momentum and the capabilities and expertise needed to drive innovation and growth, deliver critical client solutions and create value for shareholders.

“I look forward to partnering with our 83,000 colleagues to write our next chapter.”