Welcome to our dedicated page for Marsh & Mclennan news (Ticker: MMC), a resource for investors and traders seeking the latest updates and insights on Marsh & Mclennan stock.
Marsh & McLennan Companies, Inc. reports developments across risk, reinsurance and capital advisory, people and investment consulting, and management consulting. Company updates often center on Marsh Risk and its digital risk analytics tools, Mercer workforce, compensation, health and retirement advisory alliances, Oliver Wyman consulting operations, and Marsh McLennan Agency insurance, benefits, retirement and wealth solutions in the U.S. and Canada.
Recurring news also covers quarterly operating results, enterprise partnerships, AI-enabled service delivery, leadership and governance changes, material agreements, and capital-structure matters tied to the company's common stock and debt financing.
Marsh McLennan (NYSE: MMC) plans to announce its second quarter financial results on July 22, 2021, before market opening. Following the release, a teleconference will be held at 8:30 a.m. EDT, featuring discussions led by President and CEO Dan Glaser and CFO Mark McGivney. Investors can access the live audio webcast and replay via mmc.com. With an annual revenue exceeding $17 billion, Marsh McLennan provides services globally through four leading businesses focused on risk, strategy, and people.
Mercer emphasizes the transformative impact of COVID-19 on international mobility strategies, highlighting a shift towards diverse cross-border work arrangements. The company's latest survey indicates more organizations are adopting flexible assignment options to address cost of living changes and employee well-being. The 2021 Cost of Living City Ranking places Ashgabat at the top, followed by Hong Kong and Beirut. U.S. cities saw declines in ranking due to currency fluctuations, while Canadian cities rose. The survey supports firms in designing fair compensation for expatriates amidst evolving global dynamics.
S&P Global Market Intelligence and Oliver Wyman have launched Climate Credit Analytics, a new model suite designed to evaluate climate risk for over 700,000 companies. This initiative aids financial institutions in assessing the creditworthiness of investments in a low-carbon economy. The suite integrates S&P's advanced credit risk models with Oliver Wyman's climate scenario expertise, focusing on high carbon-emitting sectors. Notably, UBS will be the first bank utilizing this analytics tool for transition risk assessment.
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Marsh McLennan (NYSE: MMC) has launched RISE, a unique global MBA fellowship program in partnership with the National Black MBA Association and Fisk University, aimed at promoting racial inclusion and social equity. Targeting second-year Black MBA candidates in the US, UK, and Canada, the initiative is designed to enhance business acumen and advocate for social justice. Starting in September 2021, the program includes a practical curriculum, mentorship from industry leaders, and an immersive experience at Fisk University. The launch coincides with Marsh McLennan's 150th anniversary.
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Mercer announced that its global assets under management (AUM) reached $390 billion as of March 31, 2021. The firm has seen significant growth in its Outsourced Chief Investment Officer (OCIO) services, particularly among non-defined benefit pension assets, which drove nearly 50% of growth from Q1 2020 to Q1 2021. Between 2016 and 2021, non-pension assets increased by 245%. The recent market volatility has heightened the demand for improved governance and investment execution among institutional investors, leading to a noted rise in the OCIO market.
Marsh McLennan (NYSE: MMC) announced the appointment of Nick Studer as President and CEO of Oliver Wyman Group, effective July 1, 2021. Studer, who has been with Oliver Wyman for 23 years, will also serve as Vice Chair of Marsh McLennan and join its Executive Committee. He succeeds Scott McDonald, who has been appointed CEO of the British Council. Mr. Glaser, President and CEO of Marsh McLennan, praised Studer's leadership and his contributions to the company's Inclusion and Diversity agenda.
Marsh McLennan (NYSE: MMC) held its annual stockholders' meeting, where all 2021 director nominees were elected for a one-year term. The newly elected directors include notable figures like Daniel S. Glaser and Deborah C. Hopkins. Additionally, stockholders ratified Deloitte & Touche LLP as the independent public accounting firm for 2021 and approved the compensation for named executive officers through a nonbinding vote. The company reported an annual revenue of $17 billion, highlighting its leadership in risk and strategy services.
The inaugural Marsh Risk Resilience Report reveals a significant gap in organizations' responses to emerging risks. Based on a survey of nearly 1,000 firms, only 25% have a formal process to assess the impact of key risks, despite 75% believing their strategies align with long-term growth. The report highlights six critical risks including cybersecurity and climate change. Organizations prioritizing short-term threats risk vulnerability to severe disruptions, while those focused on resilience can gain a competitive advantage. Effective risk management strategies are crucial for long-term success.