Marsh & McLennan Cos Revamping Mercer Unit
NU Online News Service, Jan. 26, 8:44 p.m. EST?Marsh & McLennan Companies, Inc. announced organizational and management changes today at Mercer Inc., its consulting services subsidiary.[@@]
The moves, MMC said, follow the planned retirement of Mercer president, Peter Coster, after a 40-years at Mercer.
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, and one headed by David J. Morrison, currently president and chief executive officer of Mercer Management Consulting, Inc. and also a Mercer Inc. board member. Both will report to Michael G. Cherkasky, president and chief executive officer of MMC.
MMC announced that Mr. Storms has been named president and chief executive officer of Mercer Human Resource Consulting.
In his new role, MMC said that Mr. 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, Mr. Storms was president and chief executive officer of UBS Global Asset Management, Americas.
MMC said Mr. 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.
The group Mr. Morrison will head includes Mercer Strategy and Operations; 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.
Mr. Cherkasky said: "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."
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