In what the company acknowledges is a small branding change, professional services and insurance firm Marsh & McLennan has dropped the ampersand to become Marsh McLennan.
The company says the change is meant to emphasize that Marsh McLennan is a combination of four businesses working together to serve clients.
“Our modernized name and logo, an abstract infinity symbol, embody and emphasize our heritage. Taken together, these changes also convey how our businesses – Marsh, Guy Carpenter, Mercer and Oliver Wyman – are working in unison to take on the world’s greatest challenges,” the company stated in announcing the new branding.
Marsh & McLennan was formed in 1904 when two ambitious insurance brokers, Henry Marsh of Illinois and Donald McLennan of Minnesota, merged their firms. The new company was the largest insurance agency in the world with annual premiums of $3 million. Marsh remains the largest insurance broker today.
In 1921, Guy Carpenter, a cotton insurance broker who believed in quantitative analysis of losses, met Marsh and McLennan during a transatlantic crossing. Reinsurance intermediary Guy Carpenter & Co. would become part of Marsh & McLennan in 1923 and advance the science of analytics. Today’s Guy Carpenter offers brokerage, strategic advisory and analytics services.
In 1944, William Mercer was a young economist assigned to design a pension plan for a Canadian paper manufacturer. That led to him launching his own pension consulting business. In 1959, Mercer’s firm joined Marsh & McLennan, which had created an employee benefits division years earlier. Today Mercer offers investment management, employee benefits, human resources consulting, mergers and acquisitions advisory services.
Alex Oliver and Bill Wyman left partnerships at Booz Allen Hamilton in 1984 to set up a company to deliver specialized advice to executives and organizations. Marsh & McLennan acquired Oliver Wyman in 2000. Today it has more than 5,000 employees worldwide offering management consulting services.
Topics Marsh McLennan
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