EXHIBIT 24.2


                                POWER OF ATTORNEY


         The undersigned, a Director and/or Officer of Marsh & McLennan
Companies, Inc., a Delaware corporation ("MMC"), does hereby constitute and
appoint any one of J.W. Greenberg, Sandra S. Wijnberg and William L. Rosoff to
be the undersigned's agent and attorney-in-fact, each with the power to act
fully hereunder without the other and with full power of substitution, to act in
the name and on behalf of the undersigned:
         To sign or to transmit electronically in the name and on behalf of the
         undersigned, as a Director and/or Officer of MMC, and file with the
         Securities and Exchange Commission on behalf of MMC any amendments or
         supplements to its Annual Report on Form 10-K for the year ended
         December 31, 2000, any registration statements or prospectuses for the
         registration of MMC's common stock and related interests to be issued
         pursuant to MMC's employee benefit, compensation and stock plans, any
         registration statements for the registration of MMC's common stock for
         issuance in connection with future acquisitions or for resale by the
         holders thereof who acquired or will acquire such stock in connection
         with past or future acquisitions, and any amendments or supplements to
         such registration statements; and

         To execute and deliver, either through a paper filing or
         electronically, any agreements, instruments, certificates or other
         documents which they shall deem necessary or proper in connection with
         the filing of such Annual Report on Form 10-K, registration statements
         and prospectuses and amendments or supplements thereto and generally to
         act for and in the name of the undersigned with respect to such filings
         as fully as could the undersigned if then personally present and
         acting.

         IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney
effective the 20th day of September, 2001.



                           /s/ Oscar Fanjul
                           Oscar Fanjul