For John Doyle, there is most definitely life after AIG, specifically in a new executive role at Marsh.
Doyle is the new president at Marsh, an insurance broker and risk adviser and wholly owned subsidiary of Marsh & McLennan Cos. He had been CEO of American International Group’s global commercial insurance business—one of its longtime executives—until he was revamped out of his job last December as part of a series of streamlining moves at the struggling insurance giant.
Marsh’s announcement that it had hired Doyle framed the move as a major coup, referring to him as “a highly regarded insurance industry leader for more than two decades with significant global management and operational experience.
Doyle will run Marsh’s global brokerage business and report to Peter Zaffino, CEO of Marsh and chairman of Risk and Insurance Services. He’ll be based in Marsh’s New York office.
In his previous role with AIG, Doyle oversaw its property, casualty, financial lines, specialty lines institutional markets and mortgage guarantee products and services. Before AIG, Doyle was president and CEO of Chartis U.S.
Doyle begins work at Marsh in mid-April.
Doyle’s announced departure from AIG in December was the first of several in subsequent months. In February, AIG said that two more executives would be leaving: Brian Schreiber, who spearheaded M&A deals through 2008 and then helped shrink the insurer through its recovery; and Seraina Maag, who ran regional operations.
Billionaire activist investors Carl Icahn and John Paulson are among those clamoring for AIG CEO Peter Hancock to break the company up into pieces. Paulson and an Icahn representative will be added to the AIG board this spring.