Brian Duperreault will stand down as president and CEO of Marsh & McLennan at the end of the year, to be replaced by current Group President and COO Daniel Glaser.

“We are immensely grateful to Brian for the significant turnaround the company accomplished under his stewardship,” Marsh & McLennan Chairman Lord Lang of Monkton said.

“Among his many contributions since joining in January 2008, Brian has built a strong executive team, significantly improved the company’s operating results and established a long-term strategy that continues to serve as the foundation for the company’s future success.”

The 65-year-old has spent 40 years in the insurance industry, holding prominent positions with Ace and AIG before Marsh & McLennan. He is Chairman of the US Federal Advisory Committee on Insurance.