Marsh & McLennan Companies (MMC), the world's largest insurance brokerage, has announced that Sandra Wijnberg, senior vice president and chief financial officer, plans to resign from the company in March 2006.

Ms Wijnberg joined MMC five years ago and helped the global professional services giant through a high-profile investigation into its allegedly corrupt business practices last year.

Now that the company is well on the path to recovering from its recent challenges, I believe that it is the right time for me to explore the next stage of my professional career, said Ms Wijnberg

Marsh & McLennan agreed in January to pay $850 million to settle a suit filed by New York Attorney General Eliot Spitzer, who last year accused the company of bid rigging, price fixing and other anti-competitive practices.

President and chief executive officer of MMC, Michael Cherkasky, said the company had begun an active search for Ms Wijnberg’s successor.