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Marsh Pulls About-face on Industry Practice Leader
Insurance brokerage puts brakes on previous plan to let go the head of its education practice and break up that group.
By JACK ROBERTS, editor in chief of Risk & Insurance® Jean Demchak, a 26-year veteran of Marsh and the long-time head of its education practice group, will be staying at the broker as "global leader" of that practice group.
However, when Demchak's planned departure became known among clients, top management at Marsh received the very strongest endorsement of Demchak's work from leaders in the education community. Clients specifically cited both her work for Marsh and her leadership in the higher education risk management community. Also, at least two other major competing brokers were looking to add her to their management teams. Demchak is about to join the board of directors of the University Risk Management and Insurance Association, where she has been active for many years.She is known in the industry for her foresight, hard work and innovation.She has been named a Power BrokerTM in the Higher Education category four years running in the Risk & Insurance® annual listings. Timothy Mahoney, president of Marsh's Global Risk Management division and leader of the firm's Industry Practices, said, "We have set the industry standard in helping clients in the education sector understand, assess and manage the myriad exposures confronting them today. "With Jean's continued leadership, we look forward to expanding the scope of our work in this area," he said. Marsh announced Demchak's new role in a news release, in which it also said that the practice group will place increasing emphasis on public and private secondary and elementary schools. Demchak was not available for comment. August 18, 2009 Copyright 2009© LRP Publications |
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