Edgar Filing: Zaffino Salvatore D

Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â Zaffino Salvatore D

2. Date of Event Requiring Statement (Month/Day/Year)
02/26/2005

3. Issuer Name and Ticker or Trading Symbol
MARSH & MCLENNAN COMPANIES, INC. [MMC]

(Last)

(First)

(Middle)

GUY CARPENTER & COMPANY, INC.,Â ONE MADISON AVENUE

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Chairman and CEO,Guy Carpenter

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

NEW YORK,Â NYÂ 10010

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	97,827.2677 ⁽¹⁾	D	Â
Common Stock - SIP	154.5504	I	By 401(k)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Restricted Stk. Units -SISP	Â ⁽³⁾	Â ⁽³⁾	Common Stock	942.2503	$ ⁽²⁾	D	Â
Restricted Stock Units	Â ⁽³⁾	Â ⁽³⁾	Common Stock	47,065	$ ⁽²⁾	D	Â
Stock Options (Right to buy)	Â ⁽⁴⁾	03/19/2013	Common Stock	110,000	$ 42.99	D	Â
Stock Options (Right to buy)	Â ⁽⁵⁾	03/15/2010	Common Stock	30,000	$ 43.625	D	Â
Stock Options (Right to buy)	Â ⁽⁶⁾	03/14/2011	Common Stock	70,000	$ 46.1	D	Â
Stock Options (Right to buy)	Â ⁽⁷⁾	03/16/2014	Common Stock	48,000	$ 46.14	D	Â
Stock Options (Right to buy)	Â ⁽⁸⁾	03/20/2012	Common Stock	100,000	$ 56	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Zaffino Salvatore D GUY CARPENTER & COMPANY, INC. ONE MADISON AVENUE NEW YORK,Â NYÂ 10010	Â	Â	Â Chairman and CEO,Guy Carpenter	Â

Signatures

Salvatore D. Zaffino		03/08/2005
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Includes 56,400 shares of Restricted Stock.
(7)	These options vested in four equal annual installments on March 17th of 2005, 2006, 2007 and 2008.
(2)	The security converts to MMC Common Stock on a 1-for-1 basis
(8)	These options vested in four equal annual installments on March 21st of 2003, 2004, 2005 and 2006.
(6)	These options vested in four equal annual installments on March 15th of 2002, 2003, 2004 and 2005.
(5)	These options vested in four equal annual installments on March 16th of 2001, 2002, 2003 and 2004.
(3)	Not Applicable
(4)	These options vested in four equal annual installments on March 20th of 2004, 2005, 2006 and 2007.

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