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Marsh McLennan Appoints Hafize Gaye Erkan to Its Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
On February 11, 2022, Marsh McLennan (NYSE: MMC) appointed Hafize Gaye Erkan as a director, effective March 1, 2022, increasing the Board's size to 14 members. Ms. Erkan brings significant experience from her previous roles, including Co-CEO of First Republic Bank and a decade at Goldman Sachs. Her expertise encompasses investments, risk management, and digital innovation, which may enhance the company’s strategic direction. Chairman H. Edward Hanway expressed optimism about her contribution to the Board.
Positive
Hafize Gaye Erkan's extensive experience in investments and risk management may bring valuable insights.
Her background in leadership positions could enhance the company's strategic approach.
Negative
Concerns about continuity and the adjustment period for the new Board member.
Potential experience gaps, considering changes in board composition.
NEW YORK--(BUSINESS WIRE)--
On February 11, 2022, the Board of Directors of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy, and people, appointed Hafize Gaye Erkan, age 42, as director effective on March 1, 2022. With Ms. Erkan’s appointment, the Company’s Board will consist of 14 directors.
Prior to 2022, Ms. Erkan served as Co-CEO of First Republic Bank, a publicly traded commercial bank and trust company with total assets of $181 billion and additional wealth management assets of $279 billion as of December 31, 2021. She also served as President of First Republic from 2017 to 2021 and was a member of the company’s board of directors from 2019 to 2021. She joined First Republic as Senior Vice President, Chief Investment Officer and Co-Chief Risk Officer in 2014.
Before joining First Republic in 2014, Ms. Erkan spent a decade at Goldman Sachs, ultimately serving as Managing Director and Head of Financial Institutions Group Analytics and Strategies. In that role, she worked closely with boards of directors and senior management teams of financial institutions, insurers, asset managers and banks.
“Gaye has deep expertise in investments, risk management, growth markets and digital innovation,” said H. Edward Hanway, Chairman of the Company’s Board of Directors. “We look forward to welcoming her to the Board.”
Ms. Erkan serves on the board of directors for the Partnership for New York City and on the Advisory Council for the Princeton University Department of Operations Research and Financial Engineering. She served on the board of directors for Tiffany & Co. from 2019 through the company’s acquisition by LVMH in 2021.
About Marsh McLennan
Marsh McLennan (NYSE: MMC) is the world’s leading professional services firm in the areas of risk, strategy and people. The Company’s 83,000 colleagues advise clients in 130 countries. With annual revenue of nearly $20 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses. Marsh provides data driven risk advisory services and insurance solutions to commercial and consumer clients. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities. Mercer delivers advice and technology-driven solutions that help organizations redefine the world of work, reshape retirement and investment outcomes, and unlock health and wellbeing for a changing workforce. Oliver Wyman serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit marshmclennan.com, follow us on LinkedIn and Twitter or subscribe to BRINK.
Who is Hafize Gaye Erkan, and what is her experience related to Marsh McLennan?
Hafize Gaye Erkan is the newly appointed director at Marsh McLennan with extensive experience as Co-CEO of First Republic Bank and a decade at Goldman Sachs.
When did Hafize Gaye Erkan join Marsh McLennan's Board of Directors?
Hafize Gaye Erkan's appointment as director is effective March 1, 2022.
What impact might Hafize Gaye Erkan have on Marsh McLennan?
Her expertise in investments and risk management could strengthen the company's strategic direction.
How many directors are on Marsh McLennan's Board now?
With the appointment of Hafize Gaye Erkan, the Board now consists of 14 directors.
