Marsh, the world’s largest insurance brokerage, has announced the surprise resignation of its U.K., Europe and Middle East chief Bruce Carnegie-Brown after just three years in the job.
It is thought that Carnegie-Brown was keen to pursue an outside interest while continuing to work for Marsh, and that he decided to resign when he was forbidden to do so. His replacement is Marsh veteran Alex Moczarski, who will become head of the newly-expanded Europe, Middle East and Africa region.
Moczarski, who has been with Marsh for 12 years, previously held the position of head of the international speciality operations region, including Africa, Asia, Latin America & Caribbean and the Pacific.
After joining Marsh as U.K. chief executive, Carnegie-Brown successfully steered the company through the fall-out from New York attorney general Eliot Spitzer’s investigation of bid-rigging in the U.S.
He was praised for his decision to invite independent law firm Freshfields to scrutinize Marsh’s U.K. arm, after its U.S. operation was implicated in Spitzer’s investigation. The Freshfields investigation found no evidence of wrongdoing at Marsh U.K.
Carnegie-Brown joined Marsh from investment bank JPMorgan Chase, where he worked for 18 years and held several positions in Europe and Asia.
The departure of Carnegie-Brown has coincided with a restructuring at the broker. Under this change, the EMEA region, led by Moczarski, has become one of three stand-alone global regions, along with the Americas region and the Asia-Pacific region.