Michael G. Cherkasky, president and chief executive officer of MMC, said: "Results for the quarter were mixed. Marsh achieved significant improvement in both operating margin and new business development, particularly in North America, which had improved retention rates from last year. However, underlying revenues in Europe did not meet expectations, due primarily to lower client retention levels. Guy Carpenter, Kroll, and Mercer Specialty Consulting all reported excellent results, with double-digit growth in revenues and profitability. Mercer Human Resource Consulting increased revenues, but profitability was disappointing. Putnam performed as expected. We are encouraged about the positive trends in all of our businesses, except for profitability in Mercer HR, which we are addressing." MMC is a global professional services firm with annual revenues of approximately $12 billion. It is the parent company of Marsh, the world's leading risk and insurance services firm; Guy Carpenter, the world's leading risk and reinsurance specialist; Kroll, the world's leading risk consulting company; Mercer, a major global provider of human resource and specialty consulting services; and Putnam Investments, one of the largest investment management companies in the United States. Approximately 55,000 employees provide analysis, advice, and transactional capabilities to clients in over 100 countries. Its stock (ticker symbol: MMC) is listed on the New York, Chicago, Pacific, and London stock exchanges. MMC's website address is www.mmc.com. MMC and its operating companies use their websites to convey meaningful information about their businesses, including the anticipated release of quarterly financial results and the posting of updates of assets under management at Putnam. Monthly updates of total assets under management at Putnam will be posted to the MMC website the first bus...

MMC Reports Second Quarter 2006 Results