Magazine date:
Jan 2008 The announcement of a new change at the top of the brokerage firm MMC confirms the group's woes and the hardships to come to grips with the crisis pertaining to the scandal of the secret commissions. Entrusted with the task of cleaning up the mess in 2004, Michael Cherkasky is due to be replaced by a new Chairman. The group, which lost 10% in stock market value in one year, is in search for a new growth strategy which is likely to result in the transfer of some activities.