Marsh & McLennan started the year with a bang by naming an industry superstar as its new chief executive, who vowed to not only cut costs at the struggling behemoth but to dramatically reshape how the company does business.
Back in January, Brian Duperreault, who piloted ACE Ltd. to success as its chair and chief executive officer, was named MMC's new president and CEO. He took over for Michael G. Cherkasky, who had led the troubled firm since Jeff Greenberg had been forced to leave in the wake of bid-rigging and contingency fee abuse charges.
In August, MMC announced the elimination of 900 positions–through cuts in the back office, rather than from among those dealing with clients.
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