Global broker Willis has reported net profit of $US219 million ($214 million) for the quarter to March 31, down slightly on $US225 million ($219 million) in the corresponding period last year.

The flat result comes despite a 4.1% rise in organic fee and commission income.

Revenue for the quarter was $US1.05 billion ($1.02 billion), up from $US1 billion ($975 million).

Profit was affected by a $US46 million ($45 million) charge, mostly relating to staff cuts, the benefits of which are expected to show in the second quarter.

The first-quarter result is “solid”, according to Willis CEO Dominic Casserley.

Performance was relatively even across the company’s divisions, with the North American segment growing 4.3%, Willis International expanding 3.8% and Willis Global, which includes reinsurance, growing 4.1%.

The international business reported “mid-single-digit” growth from the Australasian and eastern European divisions and double-digit expansion in Latin America and Asia. Operations in western Europe saw a low-single-digit dip.

Meanwhile, Willis has announced that director James McCann will become Non-Executive Chairman from July 8.

He will replace Joe Plumeri, who until January also served as CEO.

Mr McCann joined the Willis board in 2004. He is Chairman and CEO of US flower-delivery service 1-800-Flowers.com and is on the board of Italian gaming group Lottomatica.