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Marsh McLennan (NYSE: MMC) has announced its decision to exit all operations in Russia due to the ongoing conflict with Ukraine. CEO Dan Glaser condemned the Russian government’s actions and emphasized the company's commitment to transferring ownership of its Russian businesses to local management. This strategic move highlights the firm's stance on ethical responsibility amidst global tensions, with annual revenues nearing $20 billion and operations across 130 countries.
Positive
Company demonstrates ethical responsibility by exiting Russian market amidst conflict.
Plans to transfer ownership of Russian operations to local management, potentially ensuring business continuity.
Negative
Complete exit from Russia may impact revenue and market presence in a challenging environment.
NEW YORK--(BUSINESS WIRE)--
Today, Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy, and people, announced it will exit all of its businesses in Russia.
Dan Glaser, President and CEO, said, “We condemn the unprovoked attack by the Russian government against the people of Ukraine. Having watched with horror the tragic human toll in Ukraine, we feel compelled to take this action. We intend to transfer ownership of our Russian businesses to local management who will operate independently in the Russian market. This is not a decision that we have taken lightly, and we join all those calling for a swift and peaceful resolution to this deadly conflict.”
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.
