Four years after bid-rigging scandals prompted settlements in which the mega-brokerages gave up volume-based contingency fees, the biggest of them all–Marsh–continues to struggle to compensate for the loss of about $800 million in revenue, while also coping with a softening market and a leadership upheaval.
Marsh–managed by a brand new CEO, and with its corporate parent seeking a new leader as well (see related story below)–has been the target of analysts concerned about the firm's future following stagnant organic growth reported through third-quarter 2007.
"Many issues remain at Marsh," David Small, an analyst with Bear Stearns, told National Underwriter. "The recent results were very disappointing."
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