Marsh & McLennan's unit merges to form Oliver Wyman Vector, expanding position in aviation sector

From Nasdaq: 2024-04-09 11:57:00

Oliver Wyman’s CAVOK and SeaTec Consulting Inc are merging to form Oliver Wyman Vector, strengthening its position in the aviation sector. The new entity will provide engineering and digital expertise across various industries including aviation, defense, and aerospace.

Oliver Wyman contributed 36% to MMC’s consulting revenue in 2023, with an 8% revenue growth. The company expects mid-to-high-single digit growth long-term. The global aviation market is forecasted to grow to 36,400 aircraft by 2034, driving the need for innovative solutions, which Oliver Wyman is poised to provide through its COVAK business.

Marsh & McLennan holds a Zacks Rank #4 (Sell). Its stock has risen 21.5% in the past year. Other top finance stocks include Coinbase Global (COIN) with a Zacks Rank #1 (Strong Buy), Burford Capital Limited (BUR), and Brown & Brown, Inc. with a Zacks Rank #2 (Buy). Coinbase’s earnings are expected to surge 462.2% year-over-year.

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Read more at NASDAQ.: Marsh & McLennan (MMC) Unit Unveils Oliver Wyman Vector