MMC’s Zaffino Adds Chairman Title; Willis Re’s Hearn to Join Guy Carpenter as CEO

Marsh & McLennan Companies Inc. announced that Peter Zaffino, president and CEO of Marsh, has been appointed chairman of the company’s Risk & Insurance Services segment, which includes Marsh and Guy Carpenter.

Zaffino will continue to serve as president and CEO of Marsh, reporting to Daniel S. Glaser, president and CEO of Marsh & McLennan.

Marsh & McLennan also announced that Peter Hearn, most recently the chairman of Willis Re, will join Guy Carpenter as its CEO in May 2016.

Alex Moczarski will continue to serve as president and CEO of Guy Carpenter through May 2016. Upon Hearn’s arrival at Guy Carpenter, Moczarski will serve full time in his role as chairman of Marsh & McLennan International, and will continue reporting directly to Glaser.

Zaffino, who succeeded Glaser as president and chief executive officer of Marsh in 2011, had been president and chief executive officer of Guy Carpenter, a position he assumed in early 2008. Prior to being named Guy Carpenter CEO, Zaffino held a number of executive management positions within the firm, including executive vice president, head of U.S. Treaty Operations and head of Global Specialty Practices.

Hearn has more than 30 years of reinsurance industry experience, including serving as CEO of Willis Re from 2006 to 2011 prior to becoming its chairman. Previously, Hearn spent more than a decade at Towers Perrin Reinsurance. Hearn will not join Guy Carpenter until May 2016 to enable him to honor the terms of a non-competition agreement with his former employer.

Moczarski was named president and chief executive officer of Guy Carpenter in 2011, succeeding Zaffino. Moczarski had been president of the international division of Marsh Inc., responsible for operations in all areas of the world outside the U.S. and Canada. Moczarski joined Marsh in 1993 from AIG.