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Former Marsh CEO Forfeits $25.1 Million

L.A. Times Archives
From Bloomberg News

Marsh & McLennan Cos., the world’s largest insurance brokerage, said former Chief Executive Jeffrey Greenberg forfeited $25.1 million in restricted stock after being fired amid an investigation of alleged bid rigging.

Marsh paid Greenberg a salary of $1 million last year and other compensation totaling $91,519.

He lost his job after New York Atty. Gen. Eliot Spitzer accused the company of soliciting phony insurance bids and steering clients to insurers that paid hidden fees.

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