Marsh McLennan’s Mercer signs Management Transition Agreement for BT Private Portfolio Management
Mercer, a business of Marsh McLennan (NYSE: MMC) and a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, announced today that an agreement was reached with Westpac Group to transition BT’s Private Portfolio Management (PPM) business to Mercer.
This follows Mercer’s acquisition of Advance Asset Management Limited and recent transfer of BT Super into the Mercer Super Trust.
Simon Eagleton, Investments Leader for Mercer in the Pacific region, welcomed PPM clients and colleagues and said, “PPM is a strong business with a unique proposition, providing natural synergies with Mercer’s current investment services.”
“Mercer is a well-established multi-manager in Australia, with a long history serving the needs of large endowments and foundations, and more recently individuals intermediated by financial advisers. The addition of PPM allows us to service the entire investor market – from our Mercer Super Trust members through to private clients and family offices – and support even more investors in achieving their wealth objectives,” he added.
As investors around the world grapple with significant upheaval in markets, Mercer’s global team of approximately 2,000 investment professionals is well positioned to address clients’ most pressing investment challenges and opportunities. These capabilities will help to unlock new and emerging investment solutions for PPM clients. PPM’s transition to Mercer is due to occur in the fourth quarter of 2023. At that time, Mercer will welcome new colleagues from PPM to continue relationship management, client service and operations support functions.
About Marsh McLennan
Marsh McLennan (NYSE: MMC) is the world’s leading professional services firm in the areas of risk, strategy and people. The Company’s more than 85,000 colleagues advise clients in 130 countries. With annual revenue of over $20 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses. Marsh provides data-driven risk advisory services and insurance solutions to commercial and consumer clients. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities. Mercer delivers advice and technology-driven solutions that help organizations redefine the world of work, reshape retirement and investment outcomes, and unlock health and wellbeing for a changing workforce. Oliver Wyman serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit marshmclennan.com and follow us on LinkedIn and Twitter.
About Mercer
Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s approximately 25,000 employees are based in 43 countries and the firm operates in 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 85,000 colleagues and annual revenue of over $20 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer and LinkedIn.
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Contact information
Media Contact:
Amelia Woltering
Marsh McLennan
+1 347 703 5358
amelia.woltering@mmc.com
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