Arthur J. Gallagher & Co. (AJG)
Special Conference Call
April 11, 2012 8:00 am ET
J. Patrick Gallagher Jr. – Chairman, President, Chief Executive Officer
Doug Howell – Chief Financial Officer
Dan Farrell – Sterne, Agee
Mark Hughes – SunTrust Robinson Humphrey
Ray Iardella – Macquarie
Jay Cohen – Merrill Lynch
Arash Soleimani – Stifel, Nicolaus
Yaron Kinar – Deutsche Bank
Mark Dwelle – RBC Capital Markets
Justin Maurer – Lord Abbett
Keith Walsh – Citigroup
John Campbell - Stephens
Good morning and welcome to Arthur J. Gallagher & Co.’s special conference call to provide background on its clean energy investments. Participants have been placed on a listen-only mode. Your lines will be open for questions following the presentation. Today’s call is being recorded. If you have any objections, you may disconnect at this time. Some of the comments made during the conference call, including answers given in response to questions, may constitute forward-looking statements within the meaning of the securities laws. These forward-looking statements are subject to certain risks and uncertainties that will be discussed on this call and which are also described in the Company’s reports filed with the Securities and Exchange Commission. Actual results may differ materially from those discussed today.
It is now my please to introduce J. Patrick Gallagher Jr., Chairman, President and CEO of Arthur J. Gallagher & Co. Mr. Gallagher, you may begin.
Thank you, Claudia. Welcome everybody and thank you for being with us on our special call this morning – we appreciate it. We think it’s important that we go through a detailed review of our clean coal investments. Before I turn this call over to Doug Howell, our CFO, I want to be very clear about one thing. The punchline in this presentation is that we hope to generate cash from these efforts. If you look at Page 27, 28 and 29 of our presentation, you’ll see that the use of that cash will be put to use in building out our core brokerage and risk management enterprises.