Executive-Benefit Consulting Firms Combine

Two Los Angeles-based companies that design benefit plans for well-heeled corporate managers combined Monday to create what they said was the country’s largest full-service executive-benefit operation.

Mullin Consulting and TBG Financial agreed to blend their businesses, including about 350 employees, into a new firm called MullinTBG. No layoffs are planned.

MullinTBG has $15 billion in assets under management and more than 50,000 corporate executive clients, said Jim Clary, president of the new company.

“This allows us to expand our services to our clients,” said Clary, who had been Mullin Consulting’s president and chief executive.

MullinTBG will add financial advisory and executive compensation services and develop products that will help its clients with such things as mortgages and home and car insurance, Clary said.

Mullin Consulting Chairman Peter Mullin was named chairman of the combined company. TBG Financial CEO Michael Shute was named CEO.

Clary said it would take about 18 months to fully integrate the two companies’ computer systems and other operations.