The chief executive at Marsh & McLennan Companies is not the highest paid executive with the firm at the moment, according to a securities filing, but that will change after the sale of Putnam.
Charles E. Haldeman, president and chief executive officer of Putnam Investments, the financial services arm of New York-based MMC, made $13.8 million in total compensation. Michael G. Cherkasky, MMC's president and CEO of the professional services firm, took home $8.65 million in 2006.
Mr. Cherkasky, according to a filing with the Securities and Exchange Commission, made $100,000 more in base salary than Mr. Haldeman, but he outpaced Mr. Cherkasky in short-term incentive award and stock options.
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