Marsh 1Q income down 36%

Marsh & McLennan Cos. today reported that first-quarter income declined by 36% to $268 million, compared to $416 million for the same period a year ago.
MAY 08, 2007
By  Bloomberg
Marsh & McLennan Cos. today reported that first-quarter income declined by 36% to $268 million, compared to $416 million for the same period a year ago. However, overall revenues for the New York-based insurance broker increased 5% to $2.81 billion. Quarterly results "met our overall corporate performance expectations," said chief executive Michael Cherkasky in a statement. Marsh today also authorized the buyback of up to $500 million of its stock.

Latest News

Los Angeles Federal Credit Union splits from LPL’s CFS to Cetera
Los Angeles Federal Credit Union splits from LPL’s CFS to Cetera

LPL loses another institutional client as Cetera adds a $160 million win to its credit union partnership streak.

Vanguard seeking SEC green light to expand trademark tax-busting fund design
Vanguard seeking SEC green light to expand trademark tax-busting fund design

The Jack Bogle-founded firm is looking to apply its famed dual-share class structure to actively managed strategies.

UBS keeps focus on costs in US wealth management business
UBS keeps focus on costs in US wealth management business

Meanwhile, the bank is also investing in technology for its financial advisors in the United States.

Advisor moves: LPL and Raymond James add veteran advisors in California
Advisor moves: LPL and Raymond James add veteran advisors in California

LPL welcomes a Beverly Hills-based practice from Wedbush Securities as RayJay adds a Stifel alum to its employee advisor arm.

Is the SEC's private fund exemption rule about to change?
Is the SEC's private fund exemption rule about to change?

House bill seeks inflation-based adjustment to private fund advisor exemption.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave