Marsh & McLennan Cos. promoted Scott McDonald to be the new head of its Oliver Wyman Group subsidiary.
McDonald, who has been serving as president of Oliver Wyman, a management consulting firm within the Oliver Wyman Group subsidiary, will become the new chief executive officer of Oliver Wyman Group, effective Jan. 1, 2014.
McDonald succeeds John Drzik, the current chairman and CEO of Oliver Wyman Group, who will move to Marsh Inc. to become its president of global risk and specialties.
At Marsh, Drzik will oversee a number of businesses, including Marsh’s global industries, global practices, risk solutions, global analytics and technologies, and the insurer consulting group. Drzik has also been named chairman of the newly formed Marsh & McLennan Cos. Global Risk Center, where he will work to strengthen collaboration across the firm.
Drzik is based in New York. McDonald is currently based in London but will soon relocate to New York.
As the new CEO of Oliver Wyman Group, McDonald will have responsibility for managing Oliver Wyman as well as NERA, an economic consulting firm, and Lippincott, a brand strategy consulting firm, within Oliver Wyman Group.
McDonald will report to Dan Glaser, president and CEO of Marsh & McLennan, and will become a member of the Marsh & McLennan’s executive committee.
McDonald has been president of Oliver Wyman since 2012. Previously, he was the managing partner of Oliver Wyman’s financial services practice. Prior to that role, he was the global head of the corporate and institutional banking practice within Oliver Wyman’s financial services practice.