MMC Announces Organization Changes at Mercer

January 27, 2005

Marsh & McLennan Companies Inc. (MMC) announced a number of organizational and management changes within Mercer Inc., one of the world’s largest consulting firms, providing services on issues that face the managements of enterprises in major global markets.

MMC stated that following the departure of Mercer president, Peter Coster, after a 40-year career at the company, a change in management will occur allowing the Mercer to be run as two business units.

Going forward the company will be managed as two business areas: one headed by Brian M. Storms, currently vice chairman of Mercer Human Resource Consulting and a member of the Mercer Inc. Board of Directors, and one headed by David J. Morrison, currently president and chief executive officer of Mercer Management Consulting Inc. and also a member of the Mercer Inc. Board. Both will report to Michael G. Cherkasky, president and chief executive officer of MMC.

Storms has been named president and chief executive officer of Mercer Human Resource Consulting. In his new role, Storms, 50, assumes leadership of Mercer Human Resource Consulting’s core consulting practices as well as its new outsourcing and investment solutions businesses. Before joining Mercer, he was president and chief executive officer of UBS Global Asset Management, Americas. He has spent more than 25 years in a variety of management roles in the financial services industry, both in the United States and overseas.

Morrison, 57, is assuming responsibility for leading a group of MMC’s specialty consulting businesses, which will continue to be managed by their current leaders. These include Mercer Strategy and Operations, which is led by Morrison; Mercer Oliver Wyman (risk and financial services), led by John P. Drzik; Mercer Delta Organizational Consulting (leadership and organization change), led by David A. Nadler; Lippincott Mercer (design and brand strategy), led by Ken Roberts; and NERA Economic Consulting, led by Dr. Richard T. Rapp.

“As MMC continues to realign its structure, these changes at Mercer represent important steps in streamlining accountability while ensuring that our leaders remain close to the clients and markets they serve,” Cherkasky said. “We greatly appreciate the enormous contributions that Peter Coster has made to the company over the years, and we wish him well in his retirement.”

Topics Human Resources Marsh McLennan

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