Former Marsh McLennan boss Glaser resurfaces at NY private equity firm
Dan Glaser (Pictured), the former president and chief executive officer of Marsh McLennan (MMC), has joined a New York-based private equity firm following his recent retirement from the global insurance broker after leading it through “a period of extraordinary growth and change”.
Glaser has joined Clayton, Dubilier & Rice (CD&R) as an operating partner, where he will help source new investments and support portfolio company management teams as part of CD&R's value creation plans.
Glaser is a global leader in the insurance, risk management, retirement, and professional services industries, and has held senior positions in commercial insurance and insurance brokerage across the US, Europe, and the Middle East.
As president and CEO of Marsh McLennan, he oversaw the company's Marsh, Guy Carpenter, Mercer, and Oliver Wyman brands, generating over $20 billion of annual revenue, increasing the company's market cap by $63 billion and overseeing MMC's total shareholder return by 480% during his tenure. In addition to growing the company organically during his time as CEO, Glaser oversaw more than 140 acquisitions at MMC with an aggregate transaction value in excess of $14 billion.
Glaser started his career at MMC in 1982 and held a series of senior leadership roles, including chairman and CEO of its Marsh subsidiary from 2007 to 2011 and group president and chief operating officer from 2011 through 2012, when he became president and CEO. Earlier in his career, Glaser acted as the president and COO of Willis' Risk Solutions business and served in senior roles at AIG leading its UK and Ireland business and AIG Global Energy.
"CD&R has a track record of partnering with management teams to build stronger and better performing businesses. I look forward to working alongside the talented Financial Services team to deepen our presence across our core subsectors of Insurance, Wealth & Retirement Services, Banking & Credit Services, and Fintech," Glaser said of his new role.
CD&R co-president Rick Schnall said: "With his over 40 years of financial services operating experience, I believe Dan will have a very significant impact on our ability to source, evaluate and manage opportunities in the financial services sector."
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