‘The Gallagher Way’ to the top
Arthur J Gallagher faces a number of challenges as it deals with the aftermath of its recent acquisition spree, says Tony Cornell
Following the acquisition binge of 2006-8, there was bound to be a lull as the purchases were digested. The sub-prime mortgage catastrophe, banking collapse and subsequent recession cut off finance. This resulted in four years when the industry was starved of significant acquisition activity. The appetite for takeovers was bound to return but it was a surprise that this was driven from North America. USA international brokers led the worldwide acquisition boom of the 1990s through Aon, Marsh
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