MarshBerry Becomes 100% Employee Owned Through Employee Stock Ownership Plan

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Oct 03, 2016, 03:30 ET

WOODMERE, Ohio, Oct. 3, 2016 /PRNewswire/ -- Marsh, Berry & Company, Inc. ("MarshBerry"), a Cleveland-area consulting and investment banking firm focused on the insurance industry, announced today the sharing of ownership with employees by becoming 100% owned by an Employee Stock Ownership Plan (ESOP) Trust. The ESOP announcement was made to MarshBerry employees during a quarterly staff meeting held at the company's headquarters in Woodmere, OH.

An ESOP is an employee benefit plan, which provides company stock to employees as part of their retirement benefits. As a 100% ESOP-owned company, all MarshBerry stock is now held in trust by the ESOP.

"For 35 years MarshBerry has consistently broadened ownership in order to use wealth creation as a way to attract and retain talent. This move takes it one step further, sharing ownership with all of our staff," said John Wepler, Chairman and CEO of MarshBerry. "Our employees have been the secret to our success, working tirelessly to help our clients. We feel that rewarding our staff by sharing ownership through an ESOP is a great move for our company, as it can be beneficial to our employees monetarily and through a more rewarding work experience."

As an employee-owned company, MarshBerry will continue to operate under the same business model and management structure."

About MarshBerry
Founded in 1981, MarshBerry's primary objective is to help insurance agents, brokers and carriers as they work to maximize their value through our industry-specific services that include: Merger & Acquisition Advisory**, Management Consulting, Organic Growth Consulting, Intellectual Capital and Peer Exchange Networks. Ranked #1 M&A Advisor by SNL Financial for each of the past 17 years¹, MarshBerry has advised on 531² transactions since 1999 and completed more than 250 diagnostic and confirmatory due diligence projects over the last twelve years. Visit www.MarshBerry.com to learn more.

**Securities offered though MarshBerry Capital, Inc., Member FINRA and SIPC, and an affiliate of Marsh, Berry & Co., Inc. 28601 Chagrin Blvd., Suite 400, Woodmere OH 44122, 440-354-3230

¹Mergers & Acquisition (M&A) Announced Transactions in Insurance Brokerage (1999-2015). Ranked by total number of deals.

²These totals include certain transactions completed by Marsh, Berry & Company, Inc. professionals while employed at another firm, whereby substantially all of the assets were acquired by Marsh, Berry & Company, Inc.

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Contact:
Lauren Byers, Director - Marketing
Phone: 440.392.6546
Email: [email protected]

SOURCE MarshBerry