NU Online News Service, April 21, 11:53 a.m.EDT

Marsh & McLennan Cos. Inc. has named the chief executive ofMarsh Inc. to a new position within the company, and has advancedseveral other managers into new positions within the insurancebrokerage side of the business.

The New York-based services firm said it has named Daniel S.Glaser, 50, to the new position of group president and chiefoperating officer of Marsh & McLennan.

Mr. Glaser was chairman and CEO of the company's insurancebrokerage firm Marsh, a position he held since 2007.

The company said Glaser will have operational and strategicoversight of Marsh & McLennan's risk and insurance andconsulting segments.

In addition, he will have responsibility for the company'stechnology, business services, and international and clientdevelopment functions.

Glaser will continue to report to Brian Duperreault, Presidentand CEO of Marsh & McLennan.

Prior to joining Marsh, Glaser was managing director of AmericanInternational Group Europe (U.K.) Ltd., and a senior vice presidentof AIG Inc. Glaser began his insurance career with Marsh in 1982and spent the first ten years of his career in the insuranceindustry as a Marsh broker.

Replacing Glaser at Marsh, the company named Peter Zaffino, 44,president and CEO of Marsh Inc.

Zaffino was president and CEO of Guy Carpenter, a position heassumed in early 2008.

Prior to being named Guy Carpenter CEO, Zaffino held a number ofexecutive management positions within the firm, including executivevice president, head of U.S. treaty operations and head of globalspecialty practices. He has more than 20 years of experience in theinsurance and reinsurance industry.

Replacing Zaffino as president and CEO of Guy Carpenter isAlexander Moczarski, 55.

Moczarski was president of the international division of Marsh,responsible for operations in all areas of the world outside theU.S. and Canada. He has more than 30 years of experience in theinsurance industry and joined Marsh in 1993 from AIG.

Both Marsh and Guy Carpenter are subsidiaries of Marsh& McLennan.

In a statement, Duperreault says Glaser has improved Marsh'sresults, “dramatically,” improving profitability.

“I have every confidence that Dan will bring the same leadershipqualities, strategic thinking and operational excellence to his newrole,” he adds.

Explaining the rationale for the move, Duperreault continued,“The first phase of the turnaround we began in 2008 is nowcomplete. After a strong 2010, our goal moving forward is todeliver sustainable growth in revenue and profitability across allof our operating companies. The Board of Directors and I believethat Dan's appointment will allow us to sharpen our focus as anorganization and accelerate our progress toward this goal.”

In an analyst's note, Meyer Shields with Stifel Nicolausobserves that Glaser “is well suited for his new role” and thatthis move could be a “stepping stone” for Glaser succeedingDuperreault “when the time comes.”

Deutsche Bank Securities, noting that this could be part of asuccession plan, says the move would give Glaser experienceacross all parts of the organization and give him more visibilitywith the investment community.

News of the move appeared to have no negative impact on thecompanies stock. In morning trading, the company's shares increased38 cents to $29.78 a share and closed there on the day.

This story was updated at 4:30 p.m. EDT