NU Online News Service, Sept. 16, 12:00 p.m. EDT

Insurance broker Marsh said it has named Eug?nio Paschoal the chief executive officer of Marsh Brazil effective Jan. 1.

Marsh said that in his new role, Mr. Paschoal will be responsible for driving Marsh Brazil's operating model and expansion strategy. He will be based in S?o Paulo, Brazil.

He succeeds Thomaz Menezes, who left the company in March to become CEO of Sul Am?rica Seguros e Previd?ncia.

Mr. Paschoal brings more than 25 years of insurance broking experience to Marsh. Most recently he served as managing director of Willis Latin America and Caribbean. Prior to that, he spent 12 years as CEO of Willis Brazil.

"We are thrilled that Eug?nio has decided to join Marsh. His extensive knowledge of the Brazilian market and successful track record as a CEO will be invaluable as we seek to expand our operations in this exciting economy," said Alexander Moczarski, president of Marsh's International Division.

Until Mr. Paschoal's arrival, Renato Cassinelli, regional employee benefits practice leader for Latin America and Caribbean, will continue as interim head of Marsh Brazil.

In other news, New York based Marsh & McLennan Companies, the parent company of Marsh, said it will pay a quarterly dividend of 21 cents per share on outstanding common stock, payable on Nov. 15 to shareholders of record as of Oct. 8.