Marsh & McLennan Companies, Inc. (MMC) today announced the
appointment of Brian Duperreault, 60, as President and Chief Executive
Officer of MMC, effective immediately.
"Throughout his career, including 10 years as a CEO, Brian
Duperreault has proven his ability to produce results and create
shareholder value," said Stephen R. Hardis, Chairman of MMC´s Board of
Directors. "We are delighted to welcome him to MMC."
Mr. Duperreault said: "I am honored to become the CEO of MMC, a
company that comprises several of the world´s greatest brands in risk
& insurance services and consulting. I look forward to working with
the company´s talented executives. This is an institution with
unrivaled resources and capabilities. My mission is to capitalize on
the strength of MMC´s operating companies to deliver value to clients,
employees and shareholders."
From 1994 to 2004, Mr. Duperreault served as CEO of ACE Limited,
the Bermuda-based insurer MMC helped found in 1985. He then served as
Chairman of the Board from 2004 to 2007. ACE´s net premiums are
currently $12 billion. Under his leadership, ACE grew from a boutique
catastrophe insurance specialist into a global multi-line commercial
enterprise. He presided over significant organic growth as well as the
acquisition of several businesses, including the 1999 acquisition of
Cigna´s property and casualty business. During his tenure at ACE, the
company´s market capitalization grew from $1.1 billion to
approximately $19 billion today.
Prior to ACE, Mr. Duperreault was with American International
Group for more than 20 years, holding numerous positions and
eventually rising to become Executive Vice President of AIG Foreign
General Insurance and Chairman and Chief Executive of AIG´s American
International Underwriters (AIU), which comprises all of AIG´s
non-U.S. commercial business.
MMC is a global professional services firm providing advice and
solutions in the areas of risk, strategy and human capital. It is the
parent company of a number of the world´s leading risk experts and
specialty consultants, including Marsh, the insurance broker and risk
advisor; Guy Carpenter, the risk and reinsurance specialist; Kroll,
the risk consulting firm; Mercer, the provider of HR and related
financial advice and services; and Oliver Wyman, the management
consultancy. With more than 55,000 employees worldwide and annual
revenue of $11 billion, MMC provides analysis, advice and
transactional capabilities to clients in more than 100 countries. Its
stock (ticker symbol: MMC) is listed on the New York, Chicago, and
London stock exchanges. MMC´s website address is www.mmc.com.
This press release contains "forward-looking statements," as
defined in the Private Securities Litigation Reform Act of 1995. These
statements, which express management´s current views concerning future
events or results, use words like "anticipate," "assume," "believe,"
"continue," "estimate," "expect," "intend," "plan," "project" and
similar terms, and future or conditional tense verbs like "could,"
"may," "might," "should," "will" and "would." For example, we may use
forward-looking statements when addressing topics such as: future
actions by regulators; the outcome of contingencies; changes in senior
management; changes in our business strategies and methods of
generating revenue; the development and performance of our services
and products; market and industry conditions, including competitive
and pricing trends; changes in the composition or level of MMC´s
revenues; our cost structure and the outcome of restructuring and
other cost-saving initiatives; share repurchase programs; the expected
impact of acquisitions and dispositions; and MMC´s cash flow and
liquidity.
Forward-looking statements are subject to inherent risks and
uncertainties. MMC and its subsidiaries operate in a dynamic business
environment in which new risks may emerge frequently. Accordingly, MMC
cautions readers not to place undue reliance on its forward-looking
statements, which speak only as of the dates on which they are made.
MMC undertakes no obligation to update or revise any forward-looking
statement to reflect events or circumstances arising after the date on
which it is made. Further information concerning MMC and its
businesses, including information about factors that could materially
affect our results of operations and financial condition, is contained
in MMC´s filings with the Securities and Exchange Commission,
including the "Risk Factors" section of MMC´s annual report on Form
10-K for the year ended December 31, 2006.
