Marsh & McLennan appoints new CFO for unit following departure

Marsh & McLennan Companies (MMC) has appointed Keith Walsh as the chief financial officer (CFO) of Marsh with effect from May 1, 2017. He will be based in MMC's New York headquarters, and report to the chairman of risk and insurance services Peter Zaffino, and to MMC CFO Mark McGivney.

Walsh succeeds Courtney Leimkuhler in the position, who is leaving the company to pursue an opportunity outside the industry. Leimkuhler joined the company in 2013.

Walsh will also serve as the new CFO of MMC's risk and insurance services (RIS) segment, which includes Marsh and Guy Carpenter.

Walsh has been MMC's global head of investor relations since 2012. Daniel Farrell has been promoted to replace Walsh as the vice president and head of investor relations.

Prior to joining MMC, Walsh spent 13 years as an equity research analyst at Citi, where he covered the insurance sector.

"Keith's deep understanding of the insurance industry and his demonstrated track record of strong financial strategy, planning and analysis make him ideally suited for this important role leading the Finance organization for Marsh and Guy Carpenter," said Zaffino.

"We greatly admire the dedication, professionalism and commitment to excellence that Courtney exhibited during her tenure. We wish her all the best in her future endeavors," he added.

McGivney commented: "I look forward to continuing to work with Keith in his new role. He will be a terrific leader for risk and insurance services' finance organisation."

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