Jan Siegmund - Director | MARSH & MCLENNAN COMPANIES (MMC) Executive Profile & Compensation

About Jan Siegmund

Independent director of Marsh & McLennan (MMC) since July 10, 2024; age 60. Former CFO of Cognizant Technology Solutions (2020–early 2024) and ADP (2012–Apr 2019), with prior strategy and operating roles at ADP and earlier career at McKinsey. MMC designates him independent and an Audit Committee financial expert, reflecting deep finance, internal controls, and risk oversight credentials .

Past Roles

Organization	Role	Tenure	Committees/Impact
Cognizant Technology Solutions	Chief Financial Officer	2020–2023/early 2024	Led FP&A, controllership, tax, treasury, IR, ERM; oversight of internal controls .
Automatic Data Processing (ADP)	Corporate VP & CFO	Nov 2012–Apr 2019	Finance leadership; prior Chief Strategy Officer; President, Added Value Services (2009–2012) .
ADP	Chief Strategy Officer; President, Added Value Services	2009–2012	Corporate strategy, M&A, government affairs, product, marketing .
McKinsey & Company	Consultant	Early career	Transformation expertise foundation .

External Roles

Organization	Role	Tenure	Committees/Impact
Western Union (NYSE: WU)	Director; Audit Committee Chair; Compliance Committee member	Director since 2019	Chairs Audit; member Compliance—oversight of financial reporting and regulatory compliance .
Institute of International Education (IIE)	Trustee	Since Oct 2022	Non-profit governance; education, global network .
God’s Love We Deliver	Trustee	Since Dec 2022	Non-profit governance; community impact .

Board Governance

Committee assignments at MMC: Audit Committee member; designated Audit Committee financial expert alongside Anthony Anderson and Judith Hartmann .
Independence: MMC confirms independence for Audit, Compensation, Directors & Governance committees; Siegmund listed as independent in director slate .
Attendance and engagement: Board held 11 meetings in 2024; average director attendance ~96%; all directors attended at least 75% and attended the 2024 annual meeting; Audit Committee met 11 times and holds regular executive/private sessions with management, internal audit, and Deloitte .
Executive sessions: Independent directors held six executive sessions in 2024; committees also meet in executive session per charters .
Tenure at MMC: Elected effective July 10, 2024; first election on 2025 ballot .

Fixed Compensation

Element	Amount	Notes
2024 Fees Earned/Paid in Cash (MMC)	$49,076	Pro-rated for partial year service; no committee chair fees applicable .
2024 Stock Awards (MMC)	$0	Annual director stock grant (971 shares; $200,000 grant-date value) was made June 1, 2024—prior to his July election; he did not receive the 2024 grant .
2024 Total (MMC)	$49,076	Sum of cash and stock awards .
MMC Basic Annual Retainer	$140,000	Paid quarterly; directors may elect cash/stock and deferral .
MMC Annual Stock Grant	$200,000	Number of shares with $200,000 market value granted June 1 each year .
MMC Chair Supplemental Retainers	$20,000–$200,000	Audit Chair $30k; Compensation Chair $25k; other committee chairs $20k; Independent Chair $200k .

Performance Compensation

MMC does not use performance-based equity (e.g., PSUs with TSR/EBITDA hurdles) for non-employee directors; compensation is via cash retainer and fixed annual stock grant under the Directors’ Stock Compensation Plan .

Other Directorships & Interlocks

Company	Role	Committee Positions	Potential Interlocks/Conflicts
Western Union (WU)	Director	Audit Chair; Compliance Committee	No MMC disclosure of related-party transactions or business dealings involving Siegmund; independence affirmed at MMC .

Expertise & Qualifications

MMC skill matrix: Leadership, Financial, International, Government Relations & Regulatory, Risk Management .
Audit Committee financial expert designation at MMC underscores SEC-defined expertise in financial reporting/internal controls .
Education: MS Industrial Engineering (Karlsruhe), MS Economics (UC Santa Barbara), Doctorate in Economics (TU Dresden) .

Equity Ownership

Item	Value	Notes
Total beneficial ownership (MMC common)	0 shares	As of Feb 28, 2025; no director >1% ownership; group ~0.35% .
Ownership guidelines	5x basic annual retainer	Directors must acquire/hold shares or stock units equal to 5x retainer; no sales until threshold attained .
Vested vs unvested shares	Not disclosed for Siegmund	No deferred shares listed for Siegmund in 2024 table .
Shares pledged	Not disclosed	No pledging disclosure in cited sections .

Governance Assessment

Strengths: Independent director with deep CFO and audit oversight background; MMC designates him as an Audit Committee financial expert, enhancing board’s financial reporting and ERM oversight. MMC’s governance structure (independent Chair, majority voting, robust committee charters, regular executive sessions) supports effective oversight .
Alignment: New to MMC board with 0 shares as of Feb 28, 2025; directors must reach 5x retainer ownership over time, and annual stock grants (next expected post-election) provide a pathway to alignment. Investors may watch early progress toward guidelines and any elections to defer stock .
Engagement: Board/committee cadence is high (11 board meetings; 11 Audit Committee meetings); all directors met minimum attendance; independent directors held six executive sessions—signals active oversight and engagement .
Conflicts/Red Flags: No related-party transactions involving Siegmund found in MMC’s 2025 proxy; independence affirmed; no evidence of hedging/pledging. Monitoring advisable for cross-board information flow given audit chair role at Western Union, but no MMC disclosures of conflicts .

Implication for investors: Siegmund’s audit expertise and multi-company oversight (Audit Chair at WU) strengthen MMC’s financial governance. Short-tenure ownership gap should narrow as annual equity grants accrue; observe compliance trajectory with MMC’s 5x retainer guideline and any changes in committee responsibilities over time .