Just when you think Marsh might be getting its act together in its quest to overcome the fallout from bid-rigging and contingency fee abuse scandals, its CEO, Brian Storms, suddenly takes a hike or is kicked out the door. For the embattled behemoth, it's back to square one.
All the mega-brokers have been struggling to regroup to repair their tarnished reputations and replace the billions in revenue lost when they had to surrender the lucrative, volume-based bonuses that got them into hot water in the first place, as part of settlements with then New York Attorney General (now Governor) Eliot Spitzer.
But none have been harder-pressed than the mighty Marsh to regain its footing in the new brokerage world. Now, that mission becomes even more difficult–although if the right leader is put into place, this could turn out to be a tremendous opportunity for Marsh in the long run.
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