Keith Walsh to lead IR at Marsh & McLennan

Citigroup’s Walsh will move to brokers Marsh & McLennan in December

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After 13 years as an equity research analyst covering the insurance sector at Citigroup, Keith Walsh is moving to Marsh & McLennan, one of the world’s largest brokerage firms, on December 3.

Heading up the investor relations department at the NYSE-listed firm, Walsh will report directly to chief financial officer Michael Bischoff, according to a company statement. Bischoff, who joined Marsh & McLennan in 1982, was appointed CFO of the Manhattan-based brokers in September, following a number of senior roles – including head of IR.

In his most recent role at Citi, Walsh covered insurance brokers and underwriters, which Marsh & McLennan says adds to his appeal.

‘Keith's focus on the insurance and professional services industries, coupled with his keen understanding of our Company and deep financial acumen, make him an ideal choice to lead our investor relations efforts,’ says Bischoff in the firm’s press release.

Walsh’s appointment comes as Marsh & McLennan CEO, Brian Duperreault, prepares to retire. He will be replaced by Dan Glaser who has served as group president and chief operating officer at the company since April 2011.

At the time of the announcement in September, Duperreault, who will also retire from the board of directors, said in a company statement: ‘Being part of the turnaround of Marsh & McLennan Companies has been one of the most gratifying aspects of my career. Dan and I have worked together very closely and I have full confidence that he will continue to capitalize on the strengths of Marsh & McLennan Companies to deliver superior value to its clients, employees and shareholders.’

Citigroup is yet to name a replacement for Walsh.