Marsh & McLennan Companies has now completed the acquisition of Jardine Lloyd Thompson Group plc (JLT) for USD 5.6 billion in fully diluted equity value.
“Today marks the beginning of a new era with Marsh & McLennan and JLT coming together. This is a combination of strength and strength, and the primary focus is growth – in talent, capabilities, revenue and earnings,” said Dan Glaser, President and Chief Executive Officer, Marsh & McLennan Companies.
Locally, the acquisition has seen Nick Harris, the previous JLT CEO of Australia and New Zealand become Pacific CEO for Marsh. Scott Leney, who previously held the Pacific CEO role at Marsh, has become CEO for Australia, reporting to Harris.
Many of JLT’s top executives have been named to leadership positions at Marsh & McLennan, Marsh, Guy Carpenter and Mercer including former JLT CEO Dominic Burke, who joins Marsh & McLennan as Vice Chairman and a member of the Executive Committee. Glaser said, “Our aspiration is to shape our industries and be the employer of choice.”
The acquisition builds on Marsh & McLennan’s efforts to expand in faster-growing geographies and market segments and invest in data and analytics while enhancing its capabilities across insurance brokerage, retirement and benefits.