Marsh & McLennan, the global risk advisory group, is planning to focus heavily on its human resources and Olympics-related businesses in China in the short term, its chief executive, Michael Cherkasky, told the <i>Financial Times</i>. MarshMac's China business accounts for less than 1% of its $12 billion global revenues, but the company expects sales to quintuple by 2009 and its staff to grow from 380 to 1,000. Cherkasky said that 90% of the firm's clients see China as a top priority. Mercer Human Resource Consulting, MarshMac's human resources arm, is growing at 50% a year, albeit from a small base. "The war for talent in China is just enormous," Cherkasky said. The group's Marsh subsidiary has also been advising Beijing's Olympic planners on various matters relating to public safety – such as plans for sports stadiums or logistics operations – and on complex insurance schemes.
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