Retention payments outstrip UK settlement at AJG

Analysts have grilled AJ Gallagher (AJG) about the impact of the
retention bonuses paid to staff in the wake of the broker's
former international CEO David Ross defecting to Towergate.
In the earnings call following AJG's third quarter results,
Robert Glasspiegel, analyst at Janney Montgomery Scott, asked for
clarification on the "incremental expenses" generated
from the retention bonuses.
Speaking to CFO Douglas Howell, Glasspiegel noted that while the
UK settlement was "good news" as it brough