MARSH & MCLENNAN AGENCY TO ACQUIRE CENTURION PENNSYLVANIA FIRM WILL ENHANCE MMA’S RETIREMENT CONSULTING CAPABILITIES
White Plains, New York, April 3, 2019 – Marsh & McLennan Agency LLC (MMA), the middle-market subsidiary of Marsh, today announced that it has reached agreement to acquire Centurion, the Plymouth Meeting, Pennsylvania-based retirement consulting, asset management, and benefit-plan advisory firm. Terms of the transaction, which is expected to close in the second quarter of 2019, were not disclosed.
Established in 2006, Centurion provides institutional retirement plan consulting and fiduciary services to clients with combined plan assets in excess of $16 billion and over 400,000 participants. Additionally, the company provides private wealth management, financial planning services, and institutional pension consulting as well as employee group benefit consulting.
Upon closing, Centurion will become part of Marsh Mclennan Agency Group, a Marsh & McLennan Agency. Jim Hageney, who has served as a Managing Partner of Centurion since its formation, will continue to lead the group.
“We are delighted to welcome Centurion’s talented and experienced retirement consulting services, investment and health professionals to MMA,” said Chris Veno, co-CEO of Marsh Mclennan Agency. “The addition of Centurion will enhance our offerings and expand our expertise, especially in retirement planning, and enable us to provide even greater support to our clients.”
Mr. Hageney said: “Joining the MMA team gives us the opportunity to provide additional innovative resources and solutions to our clients while creating new growth opportunities for our colleagues.”
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. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue over US$15 billion and 75,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading firms: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.