The chief executive of Willis Group Holdings Ltd. defended the company's spending on recruitment and retention, which led to a 35 percent decrease in net income in the third quarter, missing analysts' earning estimates by five cents a share.
Joe Plumeri, the insurance brokerage firm's chairman and chief executive officer, speaking to analysts today during a conference call, said the company's strategy is to grow the firm through sales. The only way to do this, he noted, is to invest in people capable of achieving growth.
"We plan to grow revenue through aggressive expansion of our sales force," Mr. Plumeri said. "We spend money purposely with growth [in mind] for the future."
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