Marsh & McLennan

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This year’s Fortune 500 marks the 67th running of the list.

F500-2021-175-Marsh & McLennan

The global professional services firm, which in April rebranded to Marsh McLennan, has businesses in insurance brokerage, risk management, reinsurance services, talent management, investment advisory, and management consulting.

This year's Fortune 500 marks the 66th running of the list.

F500-2020-195-Marsh-and-Mclennan

This professional services giant oversees businesses including risk management companies Marsh and Guy Carpenter and consulting firms Mercer and Oliver Wyman Group.

This year's Fortune 500 marks the 65th running of the list.

This year's Fortune 500 marks the 64th running of the list.

This year's Fortune 500 marks the 63rd running of the list.

This year's Fortune 500 marks the 62nd running of the list.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

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Marsh &amp; McLennan is a professional services company that provides advisory and insurance solutions to clients in the areas of risk, strategy, and people. Founded in 1871, Marsh &amp; McLennan operates across four major businesses—Marsh, Guy Carpenter, Mercer, and Oliver Wyman—serving clients in more than 130 countries.

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Marsh & McLennan (MMC): Company Profile, Stock Price, News, Rankings

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Marsh & McLennan | Fortune

Marsh & McLennan (MMC): Company Profile, Stock Price, News, Rankings | Fortune

Emma Burleigh

This Gen Xer turned $2,500 on a credit card into a multimillion-dollar business and quit his 9-to-5 for good

/2025/06/01/gen-x-entrepreneur-hella-cocktail-co-career-success/

Hosted by ROSHN Group  
Around the world, significant strides have been made to increase the number of women in corporate leadership positions. In the U.S., women make up 29% of C-Suite level roles and hold approximately 30% of board seats. And here in Saudi Arabia, nearly 10% of board positions are held by women, a new reality made possible by the Kingdom’s ambitious Vision 2030 strategy and other significant government-led reforms. Even with such progress, untapped opportunities remain in industries where women have traditionally been underrepresented – from construction and engineering to technology and energy. In this special lunch program, we’ll explore the strategies needed to advance women into C-suite positions, create more inclusive workplaces, foster untapped talent, and create a path to parity – not just progress – for women at all levels of business.
Panelists:
Dr. Maryam Ali Ficociello, Group Chief Governance Officer, Red Sea Global
Giovanna Carnevali,	 Executive Director, Master Planning, ROSHN Group
Dr. Saeeda Jaffar, Senior Vice President and Group Country Manager – GCC, Visa
Jena Ladhani, Chief Executive Officer, Global Workplace Solutions, KSA, CBRE
Renée McGowan, Chief Executive Officer, India, Middle East, and Africa, Marsh McLennan
Moderator: Michal Lev-Ram, Contributing Editor, Fortune

WOMEN’S LEADERSHIP LUNCH PROGRAM: ADVANCING WOMEN IN THE WORKPLACE

Conferences

Taso Du Val, Chief Executive Officer, Toptal Renée McGowan, Chief Executive Officer, India, Middle East & Africa, Marsh McLennan In conversation with: Ruth Umoh, FORTUNE

Fortune Global Forum 2023: The Global Skills Gap: Scaling Human Potential

Changing subject. Over the past several years, there has been a massive change in the way we work triggered in large part by the pandemic and its after effects. Now there's another transformation underway. One prompted by rapid advancements in technology, including generative A I expectation for gen A I's impact among C Suite executives are high. According to a recent mckinsey and company survey, three quarters of all respondents expect generative A I to cause significant or disruptive change to their industries in the next three years. There's concern and some excitement about what these changes could mean for workers. While there is no replacement for some tasks that are considered uniquely human, there are functions that technology can enhance or replace, completely freeing up staffers for more important duties. So next, we're going to talk about the future of work and how business leaders can harness the power of innovative technologies while improving the experience and productivity of their workers. Tasso Duval is the founder and Ceo of Toptal and Renee mcgowan is CEO of Marsh mclennan, India, Middle East and Africa. They join fortune leadership editor Ruth UO for this conversation. Good morning, everyone. Thank you. So much for joining us and welcome to the both of you. Delighted to have you at Fortune Global Forum. Thank you for joining, quick reminder for the audience. We will be taking questions from you all. So do keep that in mind as we kick off today's conversation. Uh Renee lots to discuss. So let's kick things off with you A I will and already is fundamentally reshaping nearly every aspect of the way we work. How will artificial intelligence and related new technologies impact the future of work? What are you seeing at this point? Um So we do a lot of work. OK. What happened? Oh, and well, we didn't do the images because we didn't get on to that bit of a conversation. I think there is a microphone issue. Can you can you quickly? All right, they don't do well, a few technological issues, please bear with us. But do I? Apologies, I'll start again. So um A I is definitely changing jobs, but it's also changing work. So what we're talking about and what we're studying and working with clients at Mercer is how is that changing first up is that is changing the nature of work? Um And that's where we talk about jobs, skills processes, the w the work that we, we're doing every day, it changes the workforce. So starting to think about what's the workforce that you're going to need and in particular, what are the skills that you're going to need into the future. Um And that's something that is fairly embryonic for a lot of large organizations in particular. Um And then the third thing is that the future of work will change the organization. So these hierarchical structures that typify a lot of large organizations around the world will ultimately be replaced with a structures that will be far more agile work. There will be far more fluidity of people doing tasks and skills. Um And so that's gonna be this fundamental change that's actually going to materialize, not just the way that we work, but the way that our organizations are structured and prep social structures as well. Yeah, you have a front row seat. Given your role at top goal, you mentioned skills earlier, what skills have been elevated, given the premium due to A I and conversely what skills have been downgraded? Well, there are a variety of skills that relate to the new A I fields, I suppose you could label it as such and those are all still developing. And so the role of a chief A I officer or a similar type of role is a new role that didn't even exist two years ago. Now, companies are hiring C levels who are introducing A I strategy into the organization and those individuals are responsible for increasing the productivity of all the workers in the organization, particularly at the operational level. And so what we've done at top t just as one example is we worked with hurst to be able to help them with their operational strategy and how A I interp plays with that, even having them hire one of our talent to become one of their sea levels, to instantiate an A I strategy within that organization. And you're seeing that across all different types of large organizations globally. We're helping to lead that. But all, all of the other consulting companies are as well to be able to look at, where are the operational problems? Where are the A I opportunities and how do we actually ensure that those challenges are solved through A I? Yeah, we'll soon circled back on that. I do want to go back to you, Renee looking at the intersection between A I and human capital based on Marsh mclennan research. It seems to me as though hr leaders in particular are ill equipped and maybe much of the sea, we are ill equipped to navigate this new era of human collaboration with A I? Why is that what needs to change in the immediate short term? Yeah, it's um it's fascinating. So Mercer has done a, a number of studies in this case, CEO S are focused on, on A I. So in our later study, about 40% of CEO S are considering A I and considering how it will fundamentally change their business. Interestingly though uh the hr departments in those organizations are not as focused on it so less than uh 14% of hr departments have any specific dedicated focus on A I. Um And so what's standing up is this momentum around A I the impact on jobs, of course, employees are hearing that jobs will be eliminated and these types of things, organizations are starting to think about um where it impacts. Uh but the hr departments that will actually be important for helping to change that workforce um do not have as much focus on it. And that could be a big gap that's emerging. Yeah, let's talk about that job obsolete and, and whether it's warranted, you know, one thing that I hear a lot of people say in this space is that A I will remove a lot of those wrote tedious tasks. One thing I have noted and especially in the US is a number of corporations have this apprenticeship model where in entry level employees or interns really get their feet wet by doing some of those repetitive. Um And, and road task. And so do you see a future in which companies use A I to replace junior level employees? And what's the impact on future generations of professionals? I'd love to hear the both of your thoughts on that. So certainly a lot of Alama statistics out there about the number of jobs that will be eliminated. Um But the same sort of Alama statistics that have happened with every technological evolution, I think along the way, no doubt. About it. A I will eliminate uh mundane routine type tasks. Um I think talking about sort of taking out a category of a workforce at early entry career level. Um, isn't the way that we'll be thinking about it though. I think we'll be thinking about as you're coming into your career in your early career. What are the skills that you're going to need to learn and how do we expose you to those skills throughout the organization? Um to map to, you know, either the leadership models or the the technical models that we need into the future. So I think it's about redeployment. Um and, and thinking about uh work differently, I'm sure everyone is familiar with the BC G study that was corroborated by Harvard where the consultants at BC G were greatly improved in terms of their productivity once they started using generative A I. And so the immediate impact I see is the reduction of workforce in areas that A I generative A I namely can actually impact directly and has proven track record in improving the efficiency in those areas. Consultants are one of those, but that doesn't mean consultants are going to go away. It means that they're just going to be made more efficient. And so you'll need less consultants to be able to do the types of work that a consultant does stay on you. Uh in a now, you know, widely viewed interview with uh British Prime Minister Rishi Soak. Elon Musk said that A I is the most disruptive force in human history. It's smarter than the smartest human. And as a result, he envisions a future where in people don't need jobs, um, they might have jobs just for personal satisfaction, but A I will be able to do everything so jobs will not be a necessity. Do you share those sentiments? Curious to hear your reaction to that? Well, if I could do my job, that was great. But I don't see a future any time too soon where A I is going to be able to do all the executive level functions and tasks that are needed. And it's currently in a state where it's still hallucinating on rather mundane tasks. And so I think we'll get there maybe eventually, but I'm not sure in my lifetime. Um I think it's an episode of Black Mirror for sure. Um But I'd have to agree. I don't think so in my lifetime. A I will just augment the work that we do um And executive functioning should also be also changing, evolving uh in there. So, um I think that we'll see a whole new range of jobs. We'll see a whole new range of jobs that will be augmented by, by A I. Um I don't see work if you like uh disappearing entirely. Yeah, quickly one question. Does anyone have a question in the audience? Raise your hand and then Mike handler will run to you anyone at all. All right, let's keep the conversation going. Then I wanna talk about the skills gap. Uh While most CEO S uh say that A I advancement is of utmost importance. They do acknowledge a significantly high share admit um that they do find those efforts hampered by a lack of suitable employees with the understanding, expertise in this field. What's the solution here to address the global skills gap? I'll hand over in in just a moment because um I think that you will be well placed to, to talk about this. Um No doubt organizations around um the world are grappling with, with skills. Um As we think about A I, there seems to be two camps of organization, those that are focused on it for productivity use. Um And they're looking at the skills that will uh deliver that immediate productivity improvement if you like. Um it's probably a smaller number of organizations that are looking more holistically at how this A I will actually impact their business, their business model, uh their distribution or their customer base. Um As you get into that second camp and more organizations will obviously need to uh the skill need increases enormously. M Mercer and and Marsh mclennan are doing some work with organizations at the moment to map those skills that they need in the future. Um But it's going to be a pathway to getting there and there is going to be um a specific demand for, for specific skills which I think certainly tass you can talk to at the moment. So a very interesting finding from doing a fair amount of sea level consulting work with large companies and their A I strategies and how they're working to implement A I in general is the finding that the new skill set is not really the issue. It's really teaching people who are within the organization how to leverage A I and taking the current folks who are either running operations or running different functions, how to make sure their function is leveraging A I most appropriately. And so that finding was a bit surprising to me because I think most like a lot of folks, you would think, OK, we need a new person or a new set of folks to create A I strategies and execute on them. In fact, it's a small group that enables everyone to leverage A I and those efficiencies from that strategy really in order to the benefit of the organization. And so not focusing so much on the new skill sets that need to be brought into the organization, but really how to augment folks who are currently working there and just enable them to have a sidekick or a generative A I component to their work that they can use fluidly, that really helps drive efficiency in their work. Yeah, to your point, I am seeing an enhanced focus on reskilling and upskilling employees. And I think one part of that is a financial aspect, it's considerably cheaper than finding new hires, but it does still require a sizable investment in driving some of those efforts. So what metrics should organizations use to measure the success of reskilling initiatives, upskilling initiatives and really the integration of A I in the workplace, adoption of sidekicks or these new types of tools and the outcomes from those. What you find in generative A I, especially within coding or some other areas that it's been heavily leveraged in is that there are certain folks who are really proficient at using it and certain folks who are not and the reasons underlying that are often quite surprising it has to do. In fact, in large part, as we've seen with the psychology of the user, if a user thinks they're more expert, they're actually likely to be less proficient at using the A I because they're not going to ask the relevant questions. And so teaching folks how to use A I in a way that inures to the benefit of the organization and having feedback loops to be able to know whether that's being successful or not is critical for the last 10 seconds. How do you incentivize the adoption of A I and get employees to explore its many possibilities? I think you've got to incentivize it with enthusiasm and with transparency around what the organizations were doing. People will be scared if the organization isn't being open and transparent and also enthusiastic about it. Um And so that has to be the critical piece. Ultimately, we'll get to pay for skills. Um And we're seeing some organizations move to there, but that's going to come over the next few years. Very well said Pao Renee, thank you so much for your time. Next up is Fortune Media, Ceo Alan Murray. Thank you.

Dan, you're in the leadership business, you talk to CEOs about chosing leaders, at Marshall McGlennon you are grooming the next leaders so what do you think is the most important characteristic of a successful leader? I look at leadership essentially about setting a direction, aligning people, motivating action And think in terms of possibilities, not probabilities, so suspending judgment for a second and thinking about aspirations and even dreams. So what are you looking for when you're hiring someone for a leadership position. Well I'm a tough interviewer because I- Uh- oh. ask questions that they've probably never asked before. Things like, are you a happy person? Why does that show you somebody's a leader or not? I want to get at who they really are and so I don't even know whaI want to hear. I don't want to hear somebody say no, I'm a terribly unhappy person or I'm so happy I tapdnce to work everyday. But I want to get at that level of authenticity. You know when I'm interviewing for leadership roles, a lot of times I'm hearing whether somebody is talking about there success. Anybody who's interviewing for a leadership role, has a long history of success, so how do they describe it? Just about every CEO I talked to, when they describe what it takes to have a successful business, they say you have to be very nimble. You have to be innovating constantly. You have to be willing to take risks. Now, when I look at [ UNKNOWN ] a company that's been around for 150 years. Right. You think change must come difficultly to this company. What do you tell your people, your employees about innovating and about taking risks and things like that? What I say to our people in almost every town hall is a quote from Oliver Wendall- Holmes and I say, I say his quote of most of us go to our graves If something is resonating in your brain that's different than what you're hearing around the table. Well, you also have this other great quote that is always said about you, there is no innovation without descent. Yeah. So it seems like you're encouraging conflict, and how does this work? Well, I'm happy with conflict. But I want cognitive conflict. I don't want people yelling at each other or an environment where it feels intimidating in any way because that will stifle the level of innovation and the safety of speaking up, right? So I want an environment though where the best idea wins. I'm very much more of the belief That is not about the moon shot, the one great idea. That is more about making one thousand great decisions and doing things, multiple things every day, better than you had done them the day before or the week before that really gets the company. not only motivated, but where there's a lot of contribution across many many different people. So Dan, you are full of great ideas and you've been running Martian Mcllenan a long time, but if you look back on your career, your personal life, what's the best leadership advice that you ever received and how did it shape you as a leader? Well it's interesting, when I was graduating university, my dad who was running a small manufacturing business running about 20 employees sat me down int he living room and he offered me a job and much like my older brother and my older sister, I turned him down. The look of relief in his face was apparent. I didn't realize it but he was He was always one step away from the last paycheck for the company, because there was a tremendous amount of global competition and cheaper labor, etc. And I told him that I had had a job offer from a company called Marsh & McLennan. And we talked about it a little bit, and he said to me And if you make your decisions that way, you'll probably be okay. [ BLANK_AUDIO ]

In Search of Innovation, This CEO Encourages Dissent

Leadership

Dan Glaser of Marsh &amp; McLennan thinks cognitive conflict is good for business.

Dan, many companies are now talking about leading with purpose. Doing more to improve the world. Why is this coming up now? Why is everybody talking about it? Employees have changed. They're much more active. They're much more interested in a company that has values. I mean people have opportunities to work in many different places. They choose where they work. They choose where they give their careers. And companies have to literally think about, well, what is our reason for existing, like, why do we exist? A lot of companies can easily say what they do and how they do it. They really have to start thinking about, why do we do what we do? Well we are seeing that many more business leaders do want to do good for their communities and to solve some of these social problems. And they are letting go of this notion that our primary purpose is to make profits and a good return for our shareholders, but still. How do you help advise CEOs to explain that to their shareholders, to their investors, and to their employees? Well, if you look at a presentation that I would've made five or six years ago, I would've said there's a lot of different issues, there's a lot variables, there's a lot of KPIs. Profit is our most important motivation. I wouldn't say that anymore. I don't feel it myself and part of it is just living in the world, experiencing the types of calamities that have existed, the. Gut wrenching changes in society, that came after the financial crisis and we're still in the aftermath of that, so, I've to say as a CEO, I changed and I changed my view and so that same presentation today, I would still say profit, but I would say profit and purpose, that you have to stand for something. The way I look at things, our colleagues Our clients and our communities come first. So who's a role model in this? Who's getting it right? I heard Jamie Dimon is speaking this morning. I think he really gets it. Essentially, being local, being in your community, supporting your community, using some of your Corporate profitability to recycle it within a community. I think is vital and very important. So I would certainly signal that JPMorgan seems to be getting it right. You're talking about means that you have to change the culture. You have to change the mindset. That's hard to do. It takes a different kind of leadership right? I think that if you're going to be the CEO of a company today, you are going to think like this. You can't have an innovative company where it's hierarchical. It almost certainly has to be about circles, or working on project teams, and having the ability at every level to contribute to that project, as opposed to Taking an order or taking an instruction, and so I do think that the actual form of corporations in terms of hierarchy versus in a more fluidity is changing rapidly. Well as much as everybody's talking about all of these and doing all of these [ UNKNOWN ], how do you measure success? How do you know if you're in the right track? How do you know if you really are doing good? You have to resist the urge of grabbing the early wins and saying we're done. This is foundational, this is something that as you mentioned is cultural within your own company. And so you measure culture by looking at colleague turnover rates. Colleague engagement levels. The amount in social media that is supportive of your companies ideals and values, as opposed to that is negative about it. I think colleagues are seeking leadership from companies to have a stance which is based upon the company's own values. So are you saying that the CEO's role has changed That it's just not a formal role of hitting up a company, you have to have a true north, a moral standard. Absolutely. I think that a CEO today literally should recognize themself as the servant of there company. Not even the leader of their company. A servant, a fiduciary to their company and CEOs who operate that way with humility recognize that it's not about them, it's about the people who work for the organization and. And it's about the clients and it's about the community. Those are the core constituencies. You do that right, shareholders will be fine. [ BLANK_AUDIO ]

Marsh and McLennan Companies CEO Dan Glaser discusses leading with purpose.

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