AIG Europe MD Daniel Glaser has been appointed Chairman and CEO of Marsh.

Mr Glaser will relocate to New York from London, where he served as Regional President of AIG’s American International Underwriters UK/Ireland division, in addition to his role as head of AIG Europe (UK).

He starts work on Monday, reporting to Marsh & McLennan President and CEO Michael Cherkasky.

Mr Glaser joins Marsh at a turbulent time. He succeeds Brian Storms, who was forced out of the position in September. The company reported third-quarter income from continuing operations of $US80 million ($91 million), down 40%.

Mr Glaser says Marsh is a resilient organisation with the strongest client base in the world but admits the company faces challenges that must be addressed.

He returns to Marsh after starting his career with the company as a broker in 1982. He then joined Willis where he served as President and COO of Willis Risk Solutions, before moving to AIG in 2000.

Marsh employs 26,000 staff with operations in more than 100 countries.