Mercer’s revenues rise 16% to $690m
US – Consulting firm Mercer has seen its quarterly revenues rise by 16% - though sister company Putnam Investments has posted lower revenues.
“Mercer's revenues in the second quarter increased 16% to 690 million dollars and operating income rose 10% to 99 million dollars,” said Mercer’s parent company, insurer Marsh & McLennan, in its second-quarter earnings statement.
But Marsh’s asset management subsidiary Putnam Investments posted lower revenues.
“Putnam's revenues in the second quarter were 495 million dollars, 15% lower than the prior year, and operating income declined to 125 million dollars from 169 million dollars,” Marsh said, adding that Putnam's operating environment has improved recently.
Putnam’s assets under management rose 11% to 267 billion dollars as at the end of June, compared to 241 billion dollars at the end of March.
The Boston-based manager’s institutional assets rose 12% to 96 billion dollars. International assets stood at 37 billion dollars, up from 33 billion dollars.
Overall, Marsh itself said second-quarter net profit rise almost nine percent to 365 million dollars from 336 million dollars a year earlier. Consolidated revenue at the New York-based company rose 10% to 2.9 billion dollars.