Marsh close to announcing agency buys: Duperreault

NEW YORK—More than a year after announcing its formation, Marsh Inc. appears poised launch its small-account agency initiative, Marsh & McLennan Agency L.L.C.

“As we approach year-end, we are likely to announce several acquisitions, which will allow Marsh & McLennan Agency to operate in select geographic areas across the United States,” Brian Duperreault, president and chief executive officer of Marsh & McLennan Cos. Inc., told analysts Wednesday morning.

With respect to the lengthy wait, Mr. Duperreault said that the firm has “moved deliberately to be sure we are prudent in our approach to acquisitions and that each firm we identify meets our requirement with respect to quality, cultural compatibility, consistent business approach and, lastly, pricing.”

He said that David Eslick, who was named chairman of the agency in January, has a list of potential acquisition candidates.

In terms of the size, the deals will be “relatively small” individually but “mighty” collectively, Mr. Duperreault said.