NEW YORK (Bloomberg) — Marsh & McLennan Cos., the largest insurance broker, said chief financial officer Matthew Bartley will leave the firm, the latest management change after chief executive officer Brian Duperreault took over in January.

The brokerage is searching for a replacement and Bartley intends to stay to help the transition, the New York-based company said today in a statement. Bartley, 51, joined Marsh & McLennan as treasurer in 2001 and was named CFO in 2006.

Duperreault, hired to restore profit lost in a 2004 bid- rigging scandal, has replaced two heads of operating units and said he may shed underperforming businesses. Marsh & McLennan's stock returned 3.6 percent annually in three years under the previous CEO, Michael Cherkasky, according to Bloomberg data.

"This is a mutual decision between Matt and Brian," spokeswoman Christine Walton said in an interview. "The company has obviously been through a lot in the last couple years and the financial health has been restored where Matt feels comfortable to leave."'

Bartley worked for a decade at PepsiCo Inc. before joining Marsh & McLennan, the company said.

Marsh & McLennan has climbed 2.9 percent in New York trading this year, the fourth-best performer in the 24-company KBW Insurance Index.