Marsh McLennan
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Some will play “pretend and extend”, but others will sell to strategics or take the steep climb to an IPO. -
The firm’s trajectory could, however, make it harder to meet guidance going forward.
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Rivera will succeed current CEO Carlos Rivera, effective January 1.
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The deal’s closing comes just a month and a half after the companies announced the transaction.
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The promotion is effective as of January 1.
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Prior to the event, clients were expecting a “very competitive market environment”.
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CEO John Doyle said global property rates were down 2% versus flat in Q2.
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Organic growth fell by 1 point quarter on quarter and was down by 5 points from Q3 2023.
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The mid-market unit has been a home run but will now face the fresh test of integrating a $1.3bn revenue business.
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The transaction will be one of the largest involving two strategics in broking history.
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The transaction would be one of the largest strategic-on-strategic deals ever in the broking space.
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The region has 13 offices across Texas and Louisiana.
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