I was one of the ‘higher-ups’ at AIG with Jeff Greenberg but I was in the claim department. You can like or dislike Jeff but I can assure you that when one of the clients in the division I worked with (Fortune 500 clients) had a problem he wanted it taken care of and he wanted them to like the result. Don’t have a clue as to how he was on the production side but I can tell you that I respected his attention to client claim issues.
Are there any retired or laid off Marsh employees out there who may be willing to talk about how high up the chain knowledge or direction of the bid rigging and concealment of the reinsurance commissions and “PSA revenue” schemes went? I represent a retired Marsh executive/shareholder who trusted the company’s reports of regularly growing income and revenues and lost almost his entire investment. I would love to hear directly from anyone with inside knowledge, either on the record or off.
Email me at toknkok@aol.com
This company needs a seasoned executive that has credibility in the financial markets and a proven track record of cutting unnecessary expenses and producing organic growth.
Two names out there come to mind – Robert Willumstad (currently chairman at AIG) and Robert Devlin (former American General CEO) – these are guys that will have immediate Wall Street credibility and have the ‘know how’ to get things done.
Let them set the course over the next 5 years and meanwhile begin to groom Glaser and other internal candidates for the top job.
Bill Parcells has just turned down the Miami job and is now interviewing for the MMC opening.
If they’re serious about improving Private Client Services they’d have to get rid of 95% of management and go from there. It would be amazing what an improvement in morale would do for productivity.
Just a thought from one who’s seen it from the inside. It’s not a pretty picture.
Good call. I really don’t know why you are still in Asia & the Middle East. You operation here has no passion and my boss asked me to use another broker that is willing to look after our company interest in these areas. Wake up and look closely to your local operations in these places (can’t tell on other parts of the world)
The new CEO of Marsh & McLennan should be a person who has no Insurance Experience. This way, there would be more innovation of putting Marsh & Mc Lennan
Back on track. The word “contingency” is a dirty word that brought Marsh and McLennan’s demise. Stockholders are aware of this and will not invest until there is a change. Change the word ” contingency” and come up with a new CEO and Marsh will be back on top.
FWIW, Aon (Los Angeles) did actually let go a number of their “syndicators” (brokers/marketers) right before Christmas. Some of them were do-nothings, but several were actually high quality people. Go figure – another Greg “expense junkie” Case move.
With the exception of perhaps international accounts, neither Marsh nor Aon (or for that fact, Willis and Gallagher too) really do not bring anything worthwhile to the table.
Outsourcing is making all of them look like buffoons. Add to that the “good ol’ boys” mentality. As a former Aonite that now works on the client side, I can see just how poor their service really is.
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Hire Rod Fox? Is this Rod promoting himself? If so, go away you hack.
I was one of the ‘higher-ups’ at AIG with Jeff Greenberg but I was in the claim department. You can like or dislike Jeff but I can assure you that when one of the clients in the division I worked with (Fortune 500 clients) had a problem he wanted it taken care of and he wanted them to like the result. Don’t have a clue as to how he was on the production side but I can tell you that I respected his attention to client claim issues.
Are there any retired or laid off Marsh employees out there who may be willing to talk about how high up the chain knowledge or direction of the bid rigging and concealment of the reinsurance commissions and “PSA revenue” schemes went? I represent a retired Marsh executive/shareholder who trusted the company’s reports of regularly growing income and revenues and lost almost his entire investment. I would love to hear directly from anyone with inside knowledge, either on the record or off.
Email me at toknkok@aol.com
This company needs a seasoned executive that has credibility in the financial markets and a proven track record of cutting unnecessary expenses and producing organic growth.
Two names out there come to mind – Robert Willumstad (currently chairman at AIG) and Robert Devlin (former American General CEO) – these are guys that will have immediate Wall Street credibility and have the ‘know how’ to get things done.
Let them set the course over the next 5 years and meanwhile begin to groom Glaser and other internal candidates for the top job.
Bill Parcells has just turned down the Miami job and is now interviewing for the MMC opening.
If they’re serious about improving Private Client Services they’d have to get rid of 95% of management and go from there. It would be amazing what an improvement in morale would do for productivity.
Just a thought from one who’s seen it from the inside. It’s not a pretty picture.
Good call. I really don’t know why you are still in Asia & the Middle East. You operation here has no passion and my boss asked me to use another broker that is willing to look after our company interest in these areas. Wake up and look closely to your local operations in these places (can’t tell on other parts of the world)
As they say, every problem contains its own solution…the culture change is surely coming now…
The new CEO of Marsh & McLennan should be a person who has no Insurance Experience. This way, there would be more innovation of putting Marsh & Mc Lennan
Back on track. The word “contingency” is a dirty word that brought Marsh and McLennan’s demise. Stockholders are aware of this and will not invest until there is a change. Change the word ” contingency” and come up with a new CEO and Marsh will be back on top.
Strategist
I pray State Farm will get Ed RUST out.
ROTFLMAO
FWIW, Aon (Los Angeles) did actually let go a number of their “syndicators” (brokers/marketers) right before Christmas. Some of them were do-nothings, but several were actually high quality people. Go figure – another Greg “expense junkie” Case move.
With the exception of perhaps international accounts, neither Marsh nor Aon (or for that fact, Willis and Gallagher too) really do not bring anything worthwhile to the table.
Outsourcing is making all of them look like buffoons. Add to that the “good ol’ boys” mentality. As a former Aonite that now works on the client side, I can see just how poor their service really is.