Jules B. Kroll, the founder of the risk consulting services firm that bears his name and is now a subsidiary of Marsh & McLennan Companies Inc., will retire from MMC in July, the company said today.
"As one of the founding fathers of the modern intelligence and security industry, Jules Kroll has made enormous contributions to the field of risk mitigation," said a statement from Brian Duperreault, MMC president and chief executive officer.
"His legacy is a firm that is a world leader in its area of expertise. We have benefited greatly from Jules' guidance and leadership and wish him well in the future," Mr. Duperreault continued.
Mr. Kroll said, "After more than 35 years as a steward of Kroll, I have decided to move on and pursue other personal and professional interests," and "I leave MMC confident in the knowledge that Kroll is well situated under its leadership."
MMC said Mr. Kroll indicated his future plans include increased involvement in higher education. He currently is John Jay College of Criminal Justice board chairman and is involved with two schools he graduated from, Georgetown Law School and Cornell University.
A book by Mr. Kroll on the creation of his firm and the industry it pioneered is in the works, MMC said.
He founded the company in 1972 as a consultant to corporate purchasing departments. The company eventually expanded to specialize in risk mitigation, including in the areas of forensic accounting, data recovery, employee screening, and corporate risk assessment and consulting.
Based in New York, Kroll has offices in more than 65 cities in over 33 countries. It was acquired by MMC in 2004.
An MMC spokeswoman said in an e-mail that as a senior executive at Kroll, one of his roles was head of the consulting business. That responsibility is moving over to Ben Allen, president and CEO of Kroll.
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