Marsh and McLennan Agency Acquires Presidio Benefits Group
San Francisco Firm Further Enhances Employee Benefits Capabilities in West Region
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WHITE PLAINS, NY, December 1, 2016 – Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced it has acquired Presidio Benefits Group, a San Francisco-based employee benefits consulting firm. Terms of the transaction were not disclosed.
Founded in 2006, Presidio offers a wide range of employee benefits and human resource services to employers in the Bay Area. All of Presidio’s employees, including its founders Alan Ikeya and Matthew Coan, are joining MMA and will operate out of MMA’s existing San Francisco office.
“Presidio’s talented and experienced employee benefits professionals share our same core values of putting clients’ interests first and providing exceptional service,” said Paul Hering, MMA’s Western Region CEO. “I welcome Alan, Matt, and the rest of the Presidio team to MMA and look forward to working together to deliver innovative solutions that help address the myriad of risk and benefit challenges facing local businesses.”
“We are excited to join MMA, and look forward to delivering expanded solutions and services to our clients and providing additional opportunities for our employees,” Presidio’s Mr. Ikeya said.
Mr. Coan added: “MMA has an amazing team with a world class product and service platform, and joining them puts us in the best position possible for serving our clients’ diverse needs as well as giving our colleagues enhanced career opportunities.”
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to serve as a platform for the middle market. In 2015, it expanded its national footprint into Canada. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.
Marsh is a global leader in insurance broking and risk management. Marsh helps clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. Marsh’s approximately 30,000 colleagues work together to serve clients in more than 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and people. With annual revenue of
US$13 billion and approximately 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a leader in providing risk and reinsurance intermediary services; Mercer, a leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a leader in management consulting. Follow Marsh on Twitter, @MarshGlobal; LinkedIn; Facebook; and YouTube.