The two bosses will report to Mercer President and CEO Martine Ferland and Marsh President and CEO Martin South. They will work at all four of MMC’s businesses: Marsh, Mercer, Guy Carpenter and Oliver Wyman.
industry veterans
Tomlinson has over 25 years of professional services experience. Having joined Mercer in 2014, he has assumed roles of increasing responsibility guiding Mercer’s health, wealth and career businesses. He recently served as president of the US and Canada, Mercer. It will be based in New York.
Piccolomini was most recently president of Marsh’s international division, which covers all regions except the US and Canada. He brings more than 30 years of insurance brokerage and risk advisory experience to his new role. It will be based in London.
“Often the most powerful innovations we bring to customers come from the collaboration of colleagues at the convergence of our businesses. Flavio and Pat will bring these innovations to market to position customers for even greater success,” Ferland said in a statement.
South said: “Flavio and Pat will bring together the unique capabilities and solutions of our businesses to solve customer challenges. Ultimately, it is about delivering greater value for customers and driving growth.”
MMC restructuring
The announcement comes as the global brokerage and advisory group reveals restructuring spending at its insurance and risk services division. On his fourth-quarter 2022 investor call, John Doyle, chief executive of Marsh McLennan, said he was “still working” and looking for new opportunities.
Marsh reported consolidated revenue of US$5 billion for the fourth quarter of 2022 and US$20.7 billion for the full year. Net income for the quarter was $466 million and $3 billion for the year.
