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Investment

MMC pays $428 million in compensation

BY MEDIA RELEASE | MONDAY, 16 NOV 2009 11:50AM

Marsh & McLennan Companies, which owns consultant Mercer, has agreed to pay $428 million (US$400 million) in settlement for a lawsuit filed six years ago that accused the firm of breaking securities law covering its contingent commission practices.

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Mercer Super chief executive steps down

RIDDHIMA TALWANI

Mercer Super chief executive Claire Ross is departing after almost 17 years in senior leadership roles at the retail super fund.

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L1 Group has reported a marked recovery in investment performance in the June quarter.

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Apostle Funds Management has been appointed by European investment firm Triton Partners for the distribution of its credit strategies in Australia and New Zealand.

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