Marsh & McLennan Companies Inc. (NYSE: MMC) today announced it had signed a US$279 million lease for a new development in Docklands, Melbourne.
The 15-year agreement will see the Melbourne based businesses of Marsh & McLennan operating companies, represented by Marsh, Mercer, Guy Carpenter and Oliver Wyman, relocate from their separate existing offices to the building at Collins Square, 735 Collins Street in Q2 2013.
The purpose-built Collins Square development, which will house some 2,000 of the company’s employees, is expected to be the third largest Marsh & McLennan office after New York and London.
Peter Promnitz, Australian Country Head for Marsh & McLennan Companies, said the state of the art building would offer an invigorated experience for colleagues and clients and allow for the flexibility to meet the companies’ evolving workplace needs.
“By sharing resources and leveraging Marsh & McLennan’s combined scale, our operating companies will become more efficient, creating greater value for our people, clients and, ultimately, our shareholders,” said Mr Promnitz.
“The exciting move confirms the strength of our companies in Australia and, indeed, the region.”
The new offices will be occupied primarily by Marsh and Mercer employees. Marsh will vacate from its existing premises at 555 Lonsdale Street while Mercer will move from its current headquarters at 33 Exhibition Street.
Marsh & McLennan Companies is a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital. It is the parent company of a number of the world’s leading risk experts and specialty consultants, including Marsh, the insurance broker and risk advisor; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of HR and related financial advice and services; and Oliver Wyman, the management consultancy. With 52,000 employees worldwide and annual revenue exceeding $10 billion, Marsh & McLennan Companies provides analysis, advice and transactional capabilities to clients in more than 100 countries. Its stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges. Marsh & McLennan Companies’ website address is www.mmc.com.
About Marsh
Marsh, a global leader in insurance broking and risk management, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has approximately 25,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of
Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital. With 52,000 employees worldwide and annual revenue exceeding $10 billion, Marsh & McLennan Companies is also the parent company of
Guy Carpenter, a global leader in providing risk and reinsurance intermediary services;
Mercer, a global leader in human resource consulting and related services; and
Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter
@Marsh_Inc.