MMC Names New Chief Execs at Oliver Wyman and Marsh

Scott McDonald, to become CEO
of Oliver Wyman Group Jan. 1.

Scott McDonald, currently President of Oliver Wyman, was named Chief Executive Officer of Oliver Wyman Group, effective Jan. 1, the parent company, Marsh & McLennan Companies, said today. As CEO of Oliver Wyman Group, McDonald will have responsibility for managing Oliver Wyman, NERA and Lippincott. He will report to Dan Glaser, President and CEO of MMC and will become a member of the MMC executive committee.

John Drzik, the current Chairman and CEO of Oliver Wyman Group, will move to Marsh, Inc., the insurance brokerage partner of MMC, becoming president of Global Risk and Specialties. In this role, he will report to Peter Zaffino, President and CEO of Marsh, and will oversee a number of businesses, including Marsh’s Global Industries, Global Practices, Risk Solutions, Global Analytics and Technologies, and the Insurer Consulting Group. Drzik was also named chairman of the newly formed MMCs Global Risk Center.

John Drzik, named President of Marsh
Global Risk and Specialties. 

“The changes we are announcing today will strengthen Marsh & McLennan Companies,” said Dan Glaser, President and CEO of MMC. “Scott is a proven leader at Oliver Wyman and will be a great addition to the senior management team at Marsh & McLennan Companies.

"Similarly, John has distinguished himself at Oliver Wyman Group as a thoughtful and effective leader. He will bring a new perspective to Marsh as it looks to accelerate growth in key areas of its business. The ability to move senior business leaders across our organization is a validation of the depth of our management team,” said Glaser.

McDonald was named president of Oliver Wyman since 2012. Previously, he was the managing partner of Oliver Wyman’s Financial Services practice. Prior to that role, he was the Global Head of the Corporate & Institutional Banking Practice within Financial Services, which includes the firm’s activities in the areas of Corporate Banking, Investment Banking, Capital Markets, Asset Management, Exchanges, and other related businesses. McDonald joined Oliver, Wyman in 1995 and was elected a partner in 2000 and managing partner in 2007.

Drzik joined Oliver, Wyman in 1984 and was named chairman in 2000. He played a key role in establishing the firm’s leadership position in financial services strategy and risk management consulting. In 2003, MMC acquired Oliver, Wyman. In 2006, he was named chairman of Oliver Wyman. Drzik is the author of numerous articles on strategy, risk management, and financial services, and is also the founder of the Oliver Wyman Institute, a cooperative academic forum designed to accelerate knowledge transfer between the academic community and the financial services industry.