The history of Marsh & McLennan Companies dates back to 1871. The MMC operating company that is today Marsh has a long and distinguished history as the world’s leading insurance broker and risk management advisor. The company’s first major business extension – into reinsurance brokering – came in 1923 with the acquisition of the newly formed Guy Carpenter & Company.
MMC’s presence in human resource consulting was expanded with the acquisition of benefits consultant William M. Mercer Limited in Canada in 1959. That company is known today as Mercer Human Resource Consulting and is a global leader for HR and related financial advice, products, and services. In the 1980s, Mercer began to expand into specialty consulting areas, which now include leading businesses in strategy and operations consulting (Mercer Management Consulting), financial services strategy and risk management consulting (Mercer Oliver Wyman), organizational change consulting (Mercer Delta), economic consulting (NERA), and brand and identity consulting (Lippincott Mercer). These companies are grouped under Mercer Specialty Consulting.
MMC entered the business of investment management in 1970 through the acquisition of Putnam Investments. Founded in 1937, Putnam has grown into one of the largest mutual fund companies in the United States.
MMC significantly broadened its risk consulting services in 2004 with the acquisition of Kroll, which provides a broad range of investigative, intelligence, financial, security, and technology services.
MMC has evolved from its beginnings in 1871 into a global professional services firm with revenues of approximately $12 billion. Today, 55,000 employees provide analysis, advice, and transactional capabilities to clients in more than 100 countries.
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