Duperreault, who took the helm at Marsh & McLennan just six months ago, said the brokerage could be in line to purchase "bolt-on acquisitions" for existing units, including Marsh Inc., the company's namesake brokerage that’s currently undergoing a major restructuring.
Approximately 500 jobs were cut at Marsh Inc. in the first two quarters of 2008, with more than 600 more outsourced in the UK. An additional 900 jobs, mostly in the U.S., are still on the chopping block via outsourcing, attrition and layoffs.
Marsh Inc., which accounts for nearly one-half of the group's total revenue, is in the midst of a broad restructuring. Marsh Inc cut 150 jobs in the first quarter, another 360 in the second quarter, outsourced 600 more in the United Kingdom, and now plans to cut 900 more through outsourcing, attrition, lay-offs, mostly in United States.
While Duperreault says the existing climate would make it "problematic" to make U.S. acquisitions, which can be "disruptive, dislocative," he views foreign acquisitions as a better opportunity.