Clayton, Dubilier & Rice (CD&R), a private investment firm, has appointed Dan Glaser, former President and CEO of Marsh McLennan (MMC) as an Operating Partner.
According to the announcement, Glaser joins CD&R’s Financial Services team and will help source new investments and support portfolio company management teams as they execute their value creation plans.
“CD&R has a track record of partnering with management teams to build stronger and better performing businesses,” said Glaser. “I look forward to working alongside the talented Financial Services team to deepen our presence across our core subsectors of Insurance, Wealth & Retirement Services, Banking & Credit Services, and Fintech.”
Glaser started at MMC in 1982 and held a series of senior leadership roles, including Chairman and Chief Executive Officer of its Marsh subsidiary from 2007 to 2011 and Group President and Chief Operating Officer from 2011 through 2012, when he became President and CEO.
During his time as CEO, Glaser oversaw the company’s Marsh, Guy Carpenter, Mercer, and Oliver Wyman brands, guiding them to market-leading positions generating over $20bn of annual revenue, increasing the company’s market cap by $63bn and overseeing MMC’s total shareholder return by 480% during his tenure.
He also oversaw more than 140 acquisitions at MMC with an aggregate transaction value in excess of $14 billion.
Earlier in his career, Glaser acted as the President and Chief Operating Officer of Willis’ Risk Solutions business and served in senior roles at AIG leading its UK and Ireland business and AIG Global Energy.
CD&R Co-President Rick Schnall commented: “With his over 40 years of financial services operating experience, I believe Dan will have a very significant impact on our ability to source, evaluate and manage opportunities in the financial services sector.
“His reputation for operational excellence precedes him, and we believe his expertise will greatly benefit our firm.”
Glaser has also previously served as the Chairman of the US Federal Advisory Committee on Insurance and on the Board of Ascot Syndicate and is currently Co-Chair of the International Advisory Board for British-American Business.
