One challenge facing the new chief executive of Marsh, Daniel Glaser, will be calls for a breakup of his corporate parent, Marsh & McLennan Companies, to maximize shareholder value and protect the individual company's worth.
Toronto, Canada-based K.J. Harrison & Partners called last week for the breakup of New York-based MMC. The company is not merely a casual observer, having held more than one million shares of MMC's stock since 2004.
Jim Harrison, the chief executive officer of K.J. Harrison, said in a statement that his company wants shareholders to vote on a resolution to separate Kroll (MMC's risk management subsidiary) and Mercer (its benefits consulting arm) from the insurance brokerage services of Marsh and reinsurance intermediary Guy Carpenter.
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