MMC Appoints Compliance Officer
By Mark E. Ruquet
NU Online News Service, Jan. 7, 2 :58 p.m., EST?E. Scott Gilbert, a former federal prosecutor, was named chief compliance officer, a new position, at Marsh & McLennan Companies Inc.[@@]
Mr. Gilbert, 49, was named to the post one day after one of the company's brokerage executives pled guilty in New York State Court to felony charges arising from a bid-rigging scheme at Marsh.
Mr. Gilbert, who will be a senior vice president, will assume his new position Jan. 25. MMC said he would be responsible for supervising and implementing MMC's compliance policies and programs on a global basis and would report to Michael G. Cherkasky, president and chief executive officer of MMC.
Yesterday, Robert Stearns, a former vice president with MMC's Marsh Inc. brokerage unit, pled guilty to felony charges in connection with an insurance bid-rigging scheme at the company (see NU Online Jan. 6).
Mr. Stearns is the sixth insurance executive to plead guilty to charges stemming from a corruption investigation by New York Attorney General Eliot Spitzer into contingent commission fee abuses within the insurance industry.
A former chief compliance counsel with General Electric Company, Mr. Gilbert was responsible for preventing compliance problems there by designing and implementing companywide compliance systems and coordinating GE's response to significant compliance issues by leading and supervising internal investigations. He also managed litigation related to compliance issues.
A graduate of Harvard Law School, he served more than five years as an Assistant U.S. Attorney in Manhattan, where he conducted a broad range of prosecutions, including racketeering and securities fraud trials. He served on the Securities and Commodities Fraud Task Force investigating criminal violations of federal securities laws.
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