For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.
Deals and People January 26, 2005
Storms to Run Mercer HR Consulting in MMC Reorg
January 26, 2005 (PLANSPONSOR.com) - Marsh &
McLennan Companies. (MMC), hard hit by the ongoing insurance
bid-rigging investigation, has split Mercer - its consulting
subsidiary - into two pieces including Mercer Human Resource
Consulting.
Reported by Fred Schneyer
In a Web site statement , MMC announced that Brian Storms , currently vice chairman of Mercer Human Resource Consulting and a member of the Mercer Inc. Board of Directors (SeeMarsh Melds Mercer, Putnam DC Operations ), had been tapped as the HR consulting arm’s president and chief executive officer.
In his new role, Storms, 50, will run Mercer Human Resource Consulting’s core consulting practices as well as its new outsourcing and investment solutions businesses. Before joining Mercer, he was president and chief executive officer of UBS Global Asset Management, Americas (SeeNew CEO Storms into UBS ).
The MMC announcement also said the other portion of the HR consulting business unit would be headed by David Morrison, currently president and chief executive officer of Mercer Management Consulting, Inc. and also a member of the Mercer Inc. board.
Morrison, 57, will run a group of MMC’s specialty consulting businesses, which will continue to be managed by their current leaders. These include Mercer Strategy and Operations, which is led by Morrison; Mercer Oliver Wyman (risk and financial services), led by John Drzik; Mercer Delta Organizational Consulting (leadership and organization change), led by David Nadler; Lippincott Mercer (design and brand strategy), led by Ken Roberts; and NERA Economic Consulting, led by Dr. Richard Rapp.
The announcement said both Storms and Morrison will report to Michael Cherkasky, president and chief executive officer of MMC. The changes follow the planned retirement of Mercer’s president, Peter Coster, according to the news release.
“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,” Cherkasky said in the announcement.
MMC was the first target for New York state Attorney General Eliot Spitzer in what has become a wide-ranging federal and state probe of insurance practices including the acceptance of contingent commissions (See Spitzer Takes On Contingent Commissions ).