Marsh McLennan gets new CEO after a decade as Dan Glaser retires

Marsh McLennan has revealed that its president and chief executive officer (CEO) Daniel Glaser will leave the company after a decade of leading through “a period of extraordinary growth and change” that will see the reins of the global insurance broker passed on to its chief operating officer and a former long-time AIG veteran.

John Doyle has been named new president and CEO, effective January 1, 2023. Glaser will retire from Marsh McLennan and the company’s board of directors at year-end. Doyle will join the board effective January 1.

Glaser has served as president and chief executive officer since 2013. Prior to that, he served as group president and COO of the company. He rejoined Marsh McLennan in December 2007 as chairman and CEO of Marsh, returning to the firm where he began his career in 1982.

Doyle has served as group president and chief operating officer of Marsh McLennan since January 2022, and prior to that was president and CEO of Marsh, the company’s risk advisory and insurance solutions business, from 2017 to 2021.

Doyle is an insurance industry veteran with more than 30 years of management experience in commercial insurance underwriting and brokerage. He began his career at AIG and held several executive positions at the insurer, including CEO of AIG Commercial Insurance, and president and CEO of AIG Property and Casualty in the US.

“John has been an indispensable partner to me and the other members of our Executive Committee in delivering on our strategy,” said Glaser. “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 John’s leadership.”

“It’s been an honour to lead this great Company,” Glaser added. “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 CEO: the best is yet to come for Marsh McLennan.”

Doyle commented: “I am thankful to Dan and to our Board for their support and confidence in me. 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.”

H. Edward Hanway, chairman of the company’s board of directors, said: “Dan 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 $12 billion to over $20 billion and grew the Company’s colleague base. He successfully completed the Company’s $5.6 billion acquisition of JLT in 2019; launched Marsh McLennan Agency which, in just over a decade, has grown to $2.5 billion of annual revenue and closed 100 acquisitions; and brought the firm together under a shared purpose. We are grateful for his contributions to the enterprise over many years.”

He continued: “John has the full support of our Board. He led Marsh to outstanding earnings and revenue growth and, as Group President and COO, has found new ways to harness the collective strength of Marsh McLennan to deliver even greater impact with our clients, colleagues and communities. He is a terrific strategist and an exceptional leader who builds effective, diverse, and inclusive teams. With his leadership, the Company is well positioned for continued growth.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.