Mercer revenues up 16% for quarter

Mercer reported revenue of $925 million in the first quarter, 16% higher than the previous quarter, according to a news release from parent Marsh & McLennan Cos. Inc. Revenues for Mercer’s investment outsourcing business were $188 million, up 12%; while revenues for investment consulting and management, at $78 million, grew 23%. MMC reported a first-quarter net loss of $210 million, or 40 cents per share, due mainly to a $435 million “goodwill impairment charge” related to its 2004 acquisition of risk consulting firm Kroll. “As part of our review of Kroll, we determined that the corporate advisory and restructuring operations should be managed separately,” Brian Duperreault, MMC president and CEO, said in the release.