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Marsh & McLennan Companies, Inc. (MMC), commonly known as Marsh McLennan, is a renowned global professional services firm headquartered in New York City. The company specializes in providing advanced advice and solutions in the sectors of insurance brokerage, risk management, reinsurance services, talent management, investment advisory, and management consulting.
The company operates through two main segments: Risk and Insurance Services and Consulting. In the Risk and Insurance Services segment, Marsh McLennan operates mainly through Marsh, an insurance broker, and Guy Carpenter, a risk and reinsurance specialist. These entities help clients navigate various risks, including financial, operational, and strategic risks.
On the consulting front, Marsh McLennan is represented by two key businesses: Mercer and Oliver Wyman. Mercer provides human resource services, including talent management, health benefits planning, and M&A advisory services. Oliver Wyman offers management consulting services, delivering expertise in strategy, operations, and risk management to clients across numerous industries.
Recently, Marsh McLennan's management consulting arm, Oliver Wyman, announced the combination of its legacy aviation brand CAVOK and newly acquired SeaTec Consulting Inc., rebranded as Oliver Wyman Vector. This new brand aims to provide enhanced technical and digital expertise across the aviation, aerospace, defense, and rail industries.
Another significant initiative includes the formation of the National Commission on Climate and Workforce Health, created to address the growing threats that climate change poses to workforce health. This initiative, supported by various business leaders and health experts, emphasizes the importance of building climate-resilient workforces. Mercer, a key player in Marsh McLennan's consulting segment, is actively involved in this effort, providing strategic input and support.
Marsh McLennan generates about half of its revenue from markets outside the U.S., showcasing its global reach and diversified client base. The company's financial condition remains robust, with annual revenues exceeding $23 billion, supported by its workforce of over 85,000 professionals operating in more than 130 countries.
In light of its recent achievements and ongoing projects, Marsh McLennan continues to solidify its position as a leading professional services firm, offering unparalleled solutions in risk, strategy, and human capital management.
Marsh McLennan (NYSE: MMC) has appointed John Q. Doyle as President and CEO, effective January 1, 2023, following the retirement of Daniel S. Glaser. Glaser led the company for a decade, growing revenues from
The Board of Directors of Marsh McLennan (NYSE: MMC) announced a quarterly dividend of $0.590 per share on outstanding common stock, payable on November 15, 2022. Stockholders of record on October 7, 2022 will receive this dividend. The company, a leading professional services firm with an annual revenue of approximately $20 billion, advises clients across 130 countries through its four market-leading businesses, focusing on risk, strategy, and people.
Marsh McLennan (NYSE: MMC) will release its third quarter financial results on October 20, 2022, before the market opens. A teleconference will follow at 8:30 a.m. EDT, featuring CEO Dan Glaser and CFO Mark McGivney, providing insights and a Q&A session for investors. The firm's global reach spans 130 countries with an annual revenue of approximately $20 billion, indicating significant market presence. The release will be accessible on marshmclennan.com.
Marsh, a leading insurance broker, has introduced a program allowing US clients to pay service fees using voluntary carbon offset credits and renewable energy certificates (RECs). This pioneering initiative aims to support the energy transition and clients' net zero carbon goals. Clients can transfer these credits to Bank of America, which then forwards proceeds to Marsh. The move aligns with the growing use of carbon credits and RECs following the Inflation Reduction Act, which promotes clean energy. Marsh continues to advocate for strong ESG frameworks in the insurance sector.
On September 19-21, 2022, over 300 healthcare leaders from 150 companies will gather in Chicago for the 10th annual Oliver Wyman Health Innovation Summit. Titled "New Norms, New Expectations", the event aims to address significant industry challenges such as competition and workforce issues while exploring opportunities for transformation. Keynote speakers include leaders from organizations like the Elton John AIDS Foundation, Rubicon Founders, and Houston Methodist Hospital. Attendees will engage in immersive exhibits and executive sessions focusing on the future of healthcare.
Oliver Wyman has completed the acquisition of Booz Allen Hamilton's strategy consulting business in MENA, significantly enhancing its expertise in sectors like financial services, energy, and sustainability. This strategic move, deemed one of the most significant in a decade, aims to address key client issues and opportunities. The integration will place Booz Allen's consulting practice within Oliver Wyman's UAE and KSA offices, expanding its global workforce to over 5,700 professionals across 70+ offices. Financial terms of the deal were not disclosed.
Marsh McLennan Agency (MMA) has announced the acquisition of Steinberg & Associates, Inc., a well-known independent agency located in Spartanburg, South Carolina. This strategic move aims to enhance MMA's client services in the region, extending their reach in North and South Carolina, and Georgia. Terms of the deal were not disclosed. The acquisition is expected to leverage Steinberg's expertise and provide improved resources for clients, while Hank Steinberg and his team will join MMA to further support their clientele.
Mercer, a global consulting firm under Marsh McLennan (NYSE: MMC), has announced a new Global Wealth leadership team aimed at enhancing its Investments & Retirement business. Effective September 1, Mick Dempsey becomes President of Investments & Retirement, succeeding Rich Nuzum, who now serves as Executive Director and Chief Investment Strategist. Chris Mahoney steps into the role of Global Defined Benefit/Defined Contribution Leader. This restructuring aims to drive innovation and meet evolving client needs in a dynamic investment landscape.
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