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Business Optimization
3 Months Ended
Mar. 31, 2017
Restructuring Charges [Abstract]  
Business Optimization
BUSINESS OPTIMIZATION

Business optimization charges of $24.7 million were recorded during the three months ended March 31, 2017 (three months ended March 31, 2016: $6.8 million), including $15.7 million of staff severance costs recorded in employee compensation, $8.2 million recorded in general and administrative expenses, and $0.8 million recorded in property, office and technology expenses associated with a business transformation initiative. This is a continuation of efforts to transform several key business support functions to become more effective and efficient by leveraging shared service centers, outsourcing, automation of key processes and optimization of the company's office footprint. The total costs of these initiatives at completion are estimated to be $128 million, of which $38 million remains to be incurred through mid-2018. There were no material liabilities related to business optimization efforts outstanding at March 31, 2017.