Daniel Glaser to be New Marsh CEO

Marsh&McLennan Companies (MMC) has tapped Daniel S. Glaser as the new chief executive officer for its Marsh insurance brokerage.

A Marsh news release said Glaser will relocate to MMC’s corporate headquarters in New York from his current London posting and will report to Michael G. Cherkasky, MMC President and Chief Executive Officer. Glaser replaces Brian Storms, who was ousted from the top spot at Marsh in September (See CEO Storms is Out at Marsh).

According to the announcement, Glaser is currently Managing Director of AIG Europe (U.K.) Limited and the Regional President of AIG’s American International Underwriters (AIU), UK/Ireland division. He joins Marsh on December 10, 2007.

Glaser began his career in the insurance industry as a Marsh broker in 1982. He spent eight years at Willis, where he served as President and Chief Operating Officer of Willis Risk Solutions, the large accounts practice. In 2000, he joined AIG as President of the Global Energy Division and, in 2002, was named Managing Director of AIG Europe (U.K.), AIU’s largest division.

“Dan has broad expertise in the insurance industry as well as first-hand knowledge of the Marsh organization,” said Cherkasky, in the announcement. “His perspectives as both a broker and an underwriter, coupled with his extensive international experience, make him the ideal candidate to take Marsh forward.”

In a statement in September announcing Storms’ departure, Cherkasky said that although Storms had made “important contributions” to Marsh’s recovery over the last two years, “we now need different leadership and operational skills to complete the successful transformation of Marsh.”

Storms, who joined MMC in 2004 from UBS Global Asset Management, became CEO of the brokerage unit in September 2005 after serving as President and CEO of Mercer.