Marsh McLennan (MMC) has announced new chief executives to helm its international and US and Canada divisions.
Pat Tomlinson has been named MMC US and Canada CEO, while Flavio Piccolomini is to be MMC international CEO.
The two chiefs will report to Mercer president and CEO Martine Ferland and Marsh president and CEO Martin South. They will be working across MMC’s four businesses: Marsh, Mercer, Guy Carpenter, and Oliver Wyman.
Tomlinson has more than 25 years of experience in professional services. Having joined Mercer in 2014, he has assumed roles of increasing responsibility guiding Mercer’s health, wealth, and career businesses. He most recently served as president of US and Canada, Mercer. He will be based in New York.
Piccolomini was most recently president of Marsh’s international division, comprising all regions except the US and Canada. He brings more than 30 years of experience in insurance brokerage and risk advisory to his new role. He will be based in London.
“Often the most powerful innovations we deliver for clients come from colleague collaboration at the convergence of our businesses. Flavio and Pat will take these innovations to market to position clients for even greater success,” said Ferland in a release.
South said: “Flavio and Pat will bring together the unique capabilities and solutions of our businesses to solve client challenges. Ultimately, this is all about delivering greater value for clients and driving growth.”
The announcement comes as global broking and consulting group unveil restructuring spend across its risk and insurance services division. In its Q4 2022 investor call, Marsh McLennan CEO’s John Doyle said it was “still doing some work” and looking at further opportunities.
Marsh reported consolidated revenue of US$5 billion for Q4 2022, and US$20.7 billion for the full year. Net income for the quarter was US$466 million, and US$3 billion for the year.