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Marsh To Combine Specialty Unit To Form New Business Called Marsh-JLT Specialty

Marsh, a unit of professional services firm Marsh & McLennan Companies Inc (MMC), announced Tuesday the formation of Marsh-JLT Specialty. It will be a new specialty business within Marsh that combines the specialty teams of Marsh and Jardine Lloyd Thompson Group plc (JLT).

This is effective upon closing of the transaction between Marsh's parent company, Marsh & McLennan and JLT, which remains subject to the receipt of certain antitrust and financial regulatory approvals.

In addition to becoming Vice Chairman of Marsh & McLennan Companies and a member of the Marsh & McLennan Executive Committee, Dominic Burke, currently CEO of JLT Group, will become Chairman of Marsh-JLT Specialty. He will continue to be located in London.

Lucy Clarke, CEO of JLT Specialty, will become President, Marsh-JLT Specialty reporting to John Doyle, President and CEO of Marsh.

Mark Drummond Brady, Deputy Group CEO of JLT Group, will become Vice Chairman of Marsh, reporting to Doyle. He will continue to be located in London. Drummond Brady will become a member of the Marsh Executive Committee.

Dean Klisura will be named President, Marsh Global Placement.

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