The unit will be led by Anne de Lanversin, who has more than 25 years of experience in Asset Management, Employee Benefits & Insurance.
The past five years were a golden period for large asset managers, PwC said, as margins rose by almost 16% and costs fell almost 16% relative to an income decline of almost 10%.
Craig Brown, director of Legal and General Intermediary said that while critical illness cover and life insurance were often the first protection solutions, for many customers IP could play an equally important role.
In addition to becoming vice chairman of MMC and a member of the Marsh & McLennan executive committee, Dominic Burke, currently CEO of JLT Group, will become chairman of Marsh-JLT Specialty.
Euroclear regulates the securities transactions of 2,000 major investors, such as global pension funds and insurers.