Zachary Carter was added to Marsh & McLennan Cos. Inc.'s slate of nominees for its board of directors. Mr. Carter, a partner in the law firm of Dorsey & Whitney, has been a U.S. attorney, a federal magistrate judge and an executive assistant district attorney in Brooklyn, N.Y. As a result, a group of major pension funds withdrew their proxy resolution that sought shareholder access to the corporate proxy statement to nominate directors at the firm. Those funds were the $600 million AFSCME Employees Pension Plan, Washington; $165 billion California Public Employees' Retirement System and the $114 billion California State Teachers' Retirement System, both of Sacramento; and the $117 billion New York State Common Retirement Fund, Albany. The funds had been concerned about the lack of corporate oversight of the Putnam Investments unit.
Marsh & McLennan shareholders will vote on Mr. Carter's nomination May 20.
