Marsh is telling around 60 London and international staff that they will be losing their jobs in another round of redundancies at the broking powerhouse, re-Insurance.com can reveal.
It is understood that Marsh has handed a list of names to its redundancy consultant Penna, which advises staff on finding new roles after being let go.
It is the latest swathe of job cuts at MMC’s broking arm, which earlier this year drafted in Boston Consulting Group to slash headcount in a bid to shorten reporting chains.
One well-placed source told this publication that the overhaul was intended to ensure that no employee was more than six levels of management away from the broker’s head office in New York.
Although the bulk of staff leaving in this round are based in London, a number of international staff are also thought to be under the guillotine.
They include significant players including a managing director for Marsh’s Middle East business Simon Dodsworth who is based Dubai.
According to his LinkedIn profile, he heads up the broker’s infrastructure practice, professional lines business as well as its reps and warranties offering in the region. Dodsworth is also a board member of Marsh Egypt.
The imminent departures follow earlier rounds of redundancies that have already seen a number of senior and operational figures depart from the New York-headquartered firm.
This publication understands that they include the likes of Jim Paddon, an executive in Marsh’s global energy and power business and Ian Curtin who was global head of offshore construction in addition to running Marsh’s energy construction business in London.
Earlier today, re-Insurance.com revealed that their former colleague and a senior executive in the power business, Simon Howell - who was let go by Marsh in December - has joined Price Forbes as an executive director.
Meanwhile, Marsh managing director and its global practice leader for nuclear power Mark Pollard - who is based in Milan, Italy - was also let go in April.
Marsh is also understood to have parted ways with its head of sales of Latin America Alejandro Solorzano, who is based in Miami, Florida.
In April, this publication revealed that the broker’s managing director and head of sales for global specialty Nick Roscoe the chairman of its global infrastructure practice Edwin Charnaud would be among the first.
And just yesterday, this publication revealed that Marsh’s vice chairman David Batchelor was set to step down at the end of the year, shortly before the broker’s vice chairman of global placement Jeremy Cooke.
Both men are of retirement age but the departures come as Marsh is looking to “delayer” and “simplify” the business.
Marsh declined to comment.