Bermuda-born Brian Duperreault was today named chief executive officer of Marsh & McLennan Cos., the world’s largest insurance brokerage.

Mr. Duperreault, 60, made his name in the insurance industry as chairman and CEO of Ace Ltd. from 1994 to 2004, a role in which he oversaw Ace’s evolution into a global player.

“Duperreault has proven his ability to produce results and create shareholder value,” said Stephen Hardis, chairman of New York-based Marsh’s board, in a statement.

Ace announced today that Mr. Duperreault would step down from its board of directors.

“We wish Brian all the best on his new assignment leading the Marsh & McLennan organisation,” said Evan Greenberg, Ace’s chairman and CEO.

“Marsh & McLennan is a great global franchise and an important presence in our industry. We have every confidence that Brian will provide the same exceptional leadership to Marsh & McLennan that he gave to Ace for so many years and for which we will always be grateful.”

Marsh has a presence in more than 100 countries and has a workforce of more than 26,000.

Mr. Duperreault started his insurance career as an actuary with American International Group from 1973, and gave more than 20 years’ service to AIG and its affiliates.

In April last year he became chairman of Butterfield Bank and is also chairman of the Centre on Philanthropy and chairman of the Bermuda Institute of Ocean Sciences.

* Full story in tomorrow's Royal Gazette.