MMC Names Spiller New Guy Carpenter CEO; Zaffino Continues as Chairman

June 14, 2006

The Marsh & McLennan Companies, Inc. (MMC) announced that David Spiller, the current President of Guy Carpenter & Company, Inc., MMC’s global risk and reinsurance specialty business, has been appointed as the division’s new CEO, effective July 1.

Spiller, 50, has served as President of Guy Carpenter and a member of the firm’s Executive Committee and Management Board since January 2006. As CEO, he will be responsible for the Company’s day-to-day operations worldwide and will report directly to Michael G. Cherkasky, MMC’s President and CEO.

Guy Carpenter’s current CEO Salvatore D. Zaffino will continue as Chairman. “Zaffino, 60, will continue to advise Mr. Spiller and the firm’s leadership team on strategic business issues, and will work closely with senior management on select account activities,” the bulletin indicated. He will also continue to serve as Chairman of Reinsurance Solutions International, LLC, a wholly-owned subsidiary of Guy Carpenter.

Cherkasky commented: “Since joining Guy Carpenter in January, David Spiller has proven himself to be both a visionary leader and a quick study. Under his leadership, the firm plans to grow by leveraging Guy Carpenter’s best-in-class risk advisory services, program analytics, placement capabilities and specialized market and qualitative expertise.

“Guy Carpenter’s leadership position in the marketplace and strong performance will play an important role for MMC as we draw on the unique combination of services and expertise across the company to deliver solutions that address the myriad risks our clients face. We fully expect David to build on Guy Carpenter’s strong platform as he leads the firm into the future.”

Before joining Guy Carpenter Spiller was CEO of Benfield Ltd. in London where he was responsible for all business outside of the United States. He joined Benfield through its merger with Greig Fester Group, which he joined in 1979. He also chaired the London Market Brokers’ Committee from 2004 to 2006.

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