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An actuary is a business professional who analyzes the financial consequences of risk.

Friday, October 15, 2004

Marsh axes brokerage head, Appoints Cherkasky (Kroll chief)

Marsh & McLennan removed the chief executive of its Marsh Inc. insurance brokerage unit, the day after the firm was was charged with rigging insurance transactions by New York State Attorney General Eliot Spitzer. Michael Cherkasky takes over as chief executive of Marsh Inc. immediately, the company said, replacing Ray Groves, who had been Marsh's CEO since 2003. Cherkasky was chief executive of Marsh Kroll, the company's risk consulting unit, formed earlier this year after Marsh & McLennan bought investigation and security company Kroll Inc. for about $1.9 billion.

Posted by ALD at 11:59 PM

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ALD
I'm a veteran of two careers - high school math and physics teacher, retirement consulting actuary - who is now enjoying the pleasure of staying at home for my daughter. (My avatar is in honor of Will Durant, whom I consider the last true sage.)
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      • Spitzer & Cherkasky
      • SOA Exam 5
      • New Marsh & McLennan CEO
      • SOA Education Redesign
      • MMC CEO not to step down?
      • Brokers to stop accepting incentive commissions
      • MMC CEO to step down?
      • Anniversary
      • Tumble in insurance sector continues
      • Taking 401(k) Distributions
      • Marsh axes brokerage head, Appoints Cherkasky (Kro...
      • Two AIG Executives Guilty
      • More on the Spitzer probe
      • NY Attorney General Complaint
      • Insurers' Stocks Plunge on Spitzer Probe
      • PBGC Deficit Could Double
      • 401(k) Participation Rate Slips
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      • First blog post