Marsh McLennan reveals 5000 new hires in 2021

Global insurance broker Marsh McLennan's president and chief executive officer Dan Glaser (pictured) has revealed that the company has increased its overall headcount by nearly 5000 in 2021 so far - the largest ever organic hiring in its history - with a particular focus on market facing talent.

“In 2021 we generated year-to-date adjusted EPS growth that is higher than any annual period in over three decades while at the same time investing for the future and making a significant press on hiring,” said Glaser during the broker’s third quarter results conference call.

“We grew our headcount year-to-date by nearly 5000 or around 7 percent mostly organic adds with an emphasis on client facing roles. We expect this influx of talent will drive growth, add to our capabilities, and enhance our ability to serve clients,” he added.

Marsh McLennan posted an year-on-year increase of 16 percent in its consolidated revenue in the third quarter of 2021. Its net profit rose to $537 million from $316 million generated in the same period of 2020.

The company's Risk & Insurance Services revenue increased 17 percent to $2.7 billion in the third quarter of 2021, Guy Carpenter's revenue increased 15 percent to $314 million, and Marsh's revenue in the quarter rose to $2.4 billion.

Glaser praised the “excellent results” highlighting underlying growth that he said was at the highest level in over two decades. “Given the outstanding quarter and year-to-date performance, we are on track for a terrific year,” he said.

The company expects its significant investment in “sophisticated talent" to benefit next year and beyond.

“We are seeing some revenue benefit from hiring that we've done at the end of last year and into this year,” said Glaser.

“The hiring spurt is not going to last forever, but ultimately we saw an opportunity in the market through dislocation and other factors and we really pressed on that level,” he noted.