Kroll founder to retire

NEW YORK—Marsh & McLennan Cos. Inc. said Friday that Jules B. Kroll, founder of Kroll Inc., will retire from MMC in July.

In a statement, Mr. Kroll said that he would be moving on to pursue other "personal and professional interests." He added that his plans would include "increased involvement in higher education."

Mr. Kroll founded the New York-based corporate risk assessment and consulting firm in 1972 as a consultant to corporate purchasing departments. Over the years, the company started specializing in risk mitigation, including areas of forensic accounting, data recovery and employee screening.

"As one of the founding fathers of the modern intelligence and security industry, Jules Kroll has made enormous contributions to the field of risk mitigation," Brian Duperreault, president and chief executive officer of MMC, said in a statement. "His legacy is a firm that is a world leader in its area of expertise."