Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm based in Itasca, Ill., has acquired Burns-Fazzi, Brock & Associates, the two companies announced today. Burns-Fazzi, Brock & Associates, which was founded in 1995, is a well-known compensation consulting firm for credit union executives. The terms of the deal were not disclosed.

According to the announcement, Christine Burns-Fazzi, Richard Brock, Thomas Telford and their colleagues will continue to operate from their current Charlotte, N.C., and South Ogden, Utah, locations under the direction of David Ziegler, head of Gallagher's eastern employee benefit consulting and brokerage operations. The company's president, David Frankil, joined the company in September 2013 after serving as the president of NAFCU Services for about seven years.

"BFB's credit union specialization will be a significant addition to Gallagher's niche practice group strategy and will be a great complement to our compensation and benefit consulting operations," J. Patrick Gallagher, Jr., chairman, president and CEO of Arthur J. Gallagher & Co., said. "We are pleased to welcome Chris, Rich, Tom and their associates to our growing Gallagher family of professionals."