Insurance giant Marsh hires GE compliance chief for new role

Marsh & McLennan, the insurance broker at the centre of New York Attorney General Eliot Spitzer’s bid-rigging investigation, has appointed its first chief compliance officer.

The New York Lawyer today reported that E. Scott Gilbert, formerly the chief compliance counsel for General Electric and prior to that an assistant attorney for the southern district of New York, will join the company on 24 January.

His work for General Electric included overseeing internal compliance investigations, implementing compliance procedures, and managing compliance-related litigation.

Since October, Marsh has been embroiled in a lawsuit brought by Spitzer alleging that the company was paying commissions to underwriters for lower bids. Last week Robert Stearns, a managing director, became the first Marsh employee to plead guilty in the criminal case.

In November, the company appointed Gibson Dunn & Crutcher partner Peter Beshar as its new general counsel. Beshar replaced William Rosoff who was fired as a result of Spitzer’s investigation.