William Malloy, president of Marsh, Inc., the insurance brokerage unit of Marsh & McLennan Companies, is leaving the company at the end of the year after having his job eliminated through a restructuring, the company said.
His departure is part of a major company announced reorganization of the management and operation of the insurance brokerage unit, and continues the upheavals at the brokerage.
Malloy has been president of the insurance brokerage unit since March 2005. Four months earlier, he had been named co-president of the unit with Peter F. Garvey as a result of other departures, but Garvey stepped down from the post at that time for “personal reasons.”
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