Marsh McLennan adds to directors board

Addition brings more than three decades of experience

Marsh McLennan adds to directors board

Insurance News

By Terry Gangcuangco

Marsh McLennan – the parent firm of Marsh, Guy Carpenter, Mercer, and Oliver Wyman – has announced the immediate appointment of Jan Siegmund to its board of directors. This addition brings the total number of board members to 12.

Siegmund brings over three decades of expertise in corporate finance, strategy, and consulting to the board. Before retiring in early 2024, he served as chief financial officer at professional services firm Cognizant Technology Solutions.

His career also includes significant roles at Automatic Data Processing, a provider of cloud-based human capital management solutions, where his roles included corporate vice president and CFO. Additionally, Siegmund is a member of the board at Western Union.

H. Edward Hanway, chair of Marsh McLennan’s board, highlighted the significance of the appointment, saying: “Effective succession planning and board refreshment are at the core of our commitment to having the right mix of skills and experience on our board. We are pleased to welcome an executive of Jan’s calibre to support the success of Marsh McLennan.”

Meanwhile John Doyle, president and chief executive of Marsh McLennan, remarked: “I am excited to welcome Jan to Marsh McLennan’s board. His extensive leadership experience in corporate finance, strategy, and professional services will enhance our board’s perspective on a range of important issues.”

In May, Marsh McLennan stockholders elected the entire slate of 2024 director nominees – Anthony K. Anderson, John Q. Doyle, Oscar Fanjul, Hanway, Judith Hartmann, Deborah C. Hopkins, Tamara Ingram, Jane H. Lute, Steven A. Mills, Morton O. Schapiro, and Lloyd M. Yates – for a one-year term.

In the first quarter of 2024, Marsh McLennan’s consolidated revenue grew 9% to US$6.5 billion, of which US$4.3 billion came from the group’s risk & insurance services business. Marsh McLennan’s operating income, meanwhile, rose 12% to US$1.9 billion.

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