Advertise
Resources
Member, Beacon International Group, Ltd.
Chairman and Chief Executive Officer
Marsh Inc.
New York
His role: Named chairman and CEO in December 2007 to succeed Brian Storms, who was fired in September for what Marsh & McLennan Cos. Inc. attributed to poor execution of Marsh's long-term strategy. Mr. Glaser previously was managing director of AIG Europe (U.K.) Ltd. and regional president of the U.K. and Ireland division of American International Underwriters, both units of American International Group Inc. Before that, he worked for Willis Group Holdings Ltd. and Marsh.
What's ahead: Marsh has yet to fully recover from 2004 fraud and bid-rigging charges leveled by former New York Attorney General Eliot Spitzer in which it agreed to give up hundreds of millions in contingent commission revenue. Aside from management changes, Marsh has dealt with lackluster financial results, employee defections and client retention issues. While the broker appeared to be back on track, various initiatives spearheaded by Mr. Storms, including a broad reorganization of the business, increased operating expenses and added distractions and ultimately led to Mr. Storms' ouster.
What to watch: Mr. Glaser faces several challenges, not the least of which is cutting expenses and re-engaging an employee base that had lost confidence in Mr. Storms. While Mr. Glaser's exact plans are unknown, all eyes will be watching whether he can successfully guide the world's largest brokerage back to prosperity.