NU Online News Service, Oct. 3, 2003, 5:37 p.m. EST – Clark Consulting Inc., Barrington, Ill., has bought Executive Benefit Solutions L.L.C., Memphis, Tenn., from David Shoemaker.
Shoemaker will get $2.6 million in cash up front, and he can get $10 million more over the next 42 months if his firm meets specified revenue targets, Clark says.
Clark, a unit of Clark Inc., sells benefits consulting services and other consulting services.
Executive Benefit sells compensation, benefits and bank-owned life insurance portfolio consulting services to banks in the Northeast.
Clark is making Shoemaker president of its banking practice in a region that includes New Jersey, New York, Pennsylvania and Tennessee.