Marsh & McLennan

(MMC) - Get Report

named Brian M. Storms CEO of its Marsh Inc. risk and insurance services subsidiary, and E. Michael Caulfield president of its Mercer Human Resources Consulting unit.

Storms, who was CEO of Mercer Human Resource Consulting, succeeds Marsh & McLennan chief Michael Cherkasky atop Marsh Inc. Caulfield, formerly chief operating officer of Mercer, succeeds Storms as president there.

"With Marsh making progress in its recovery, it is time for me to dedicate my full attention to refining and implementing MMC's overall growth strategy and to creating value for MMC's clients and shareholders by bringing together our full portfolio of capabilities to serve our clients' complex, global needs," Cherkasky said.

On Friday, Marsh shares rose 91 cents to $28.98.