Pellegrini will have oversight of the global broker’s US and Canada aviation, construction, credit specialties, energy and power, financial and professional lines (FINPRO), marine, cargo and logistics, and private equities, mergers and acquisitions (PEMA) businesses.
He will report to Marsh specialty and global placement president Pat Donelly.
“Michael is an outstanding leader with extensive knowledge of the firm, deep commitment to talent development, and proven success,” Donelly said in a press release shared with Insurance Business. “Colleagues and clients alike in the US and Canada will be well-served under Michael’s leadership, as they navigate today’s challenging risk environment.”
Pellegrini, who is based in San Francisco, joined Marsh more than 20 years ago. He has held a number of leadership positions with the firm within marine and cargo. Pellegrini will continue to serve as Marsh’s North American marine, cargo & logistics practice leader until a replacement is named.
“I’m thrilled to be leading this team of talented professionals at Marsh during this dynamic time,” Pellegrini said. “Together, we are committed to exploring new possibilities and delivering exceptional value to our clients.”
The global business named Michelle Sartain, who Pellegrini succeeds, as Marsh president of US and Canada in July.
Sartain, who Marsh said Pellegrini is set to work closely with, had been head of the US and Canada specialty business since the start of 2022 prior to her promotion, which was announced in tandem with Donelly taking up his current role.
Marsh parent company Marsh McLennan unveiled its first half results in July, reporting rising consolidated revenue of US$11.8 billion ($16.2 billion). Marsh itself saw revenue growth of 9% for the first six months of the year.
