3/9/2021 Mercer (consulting firm) - Wikipedia [ Mercer (consulting firm). (Accessed Mar. 09, 2021). Overview, incl. Oliver Wyman, PriceWaterhouseCoopers (PWC) pension Mercer (consulting firm) windup. Wikipedia. ]

Mercer is an American asset management firm.[1] It is the world's largest outsourced asset manager with over US$300 billion Mercer outsourced assets under management and US$15 trillion under advisement in total.[2] Headquartered in New York City, the firm operates in more than 130 countries, and is the largest provider of Type Subsidiary [3][4][5] outsourced chief investment officers. Industry Investment management Mercer is a subsidiary of global professional services firm Marsh & Number of 180 cities in 43 McLennan. locations countries Key Martine Ferland people (President and CEO) Contents Products Asset management, History including retirement, Foundation and early years (1937-1959) health & benefits, human capital, Post acquisition growth (1959-2002) surveys & products, Mercer Delta Consulting communication, Mercer Human Resource Consulting (2002-2007) investments, Mercer (2007-present) outsourcing, and mergers & acquisitions See also Revenue 5,021,000,000 United References States dollar (2019) External links Number of 25,000 (2019) employees History Parent Marsh & McLennan

Foundation and early years (1937-1959)

William Manson Mercer founded William M. Mercer, Limited in Vancouver, Canada in 1945. It was acquired by Marsh & McLennan and merged into their employee benefits department in 1959.[6][7]

Post acquisition growth (1959-2002)

Mercer Consulting Group

In 1975, Marsh & McLennan converted their benefits operations into a wholly owned subsidiary, William M. Mercer, Inc. In 1992, a holding company was created for Marsh & McLennan's three global consulting businesses, known as Mercer Consulting Group.[8] William M. Mercer, Inc. continued to provide actuarial and employee benefits consulting within the group alongside two sister companies: Mercer Management Consulting and National Economic Research Associates, Inc, which provided corporate strategy consulting and economic consulting, respectively.[9] https://en.wikipedia.org/wiki/Mercer_(consulting_firm) 1/6 3/9/2021 Mercer (consulting firm) - Wikipedia Mercer Delta Consulting

In 2000, Mercer Consulting Group acquired Delta Consulting Group for its organizational development and change management expertise.[10] Founded by organizational theorist David A. Nadler in 1980, Delta Consulting Group worked to structure effective executive teams.[11][12] The firm had an influential client list, including corporations such as 3M, Citicorp, Procter & Gamble, The New York Times, and Xerox.[13][14]

The new entity was renamed Mercer Delta Consulting, and maintained its specialty in leadership and organizational change.[15][16] The group grew through further acquisitions of Canadian Johnston Smith International, French Change Management Consultants, Spanish c.r.m. Concord, and American CDR International.[17] They surveyed directors of the Fortune 1000 annually and monitored developments in business governance.[18] In contrast to the traditional organizational structure, where business units within an organization are clearly defined, Mercer Delta was a proponent of strategically aligned business units that were linked to a larger organization with which they could share capabilities when needed, and operate separately from when they were not.[19]

Mercer Human Resource Consulting (2002-2007)

In 2002, William M. Mercer Inc. changed its name to Mercer Human Resource Consulting.[20]

In 2004, Marsh & McLennan folded its troubled Putnam Investments defined contribution business into its Mercer line and acquired Houston, Texas-based Synhrgy HR Technologies, a human resources technology and outsourcing services company.[1] Also in 2004, Mercer admitted giving the NYSE board a compensation report that contained "omissions and inaccuracies" that led to a $139.5 million pay package for former NYSE Chairman Richard Grasso. Mercer had been brought in to advise the stock exchange on Grasso's 2003 contract and his request for $139.5 million. The consultancy returned $440,000 in fees it collected from the NYSE and provided key documents in the lawsuit.[21]

In 2005, Marsh & McLennan split Mercer Human Resources Consulting from Mercer Consulting Group. The five consultancies which remained in the group were renamed Mercer Specialty Consulting.[22]

Mercer (2007-present)

In 2007, three of the five speciality consulting units - Mercer Delta Consulting, Mercer Oliver Wyman and Mercer Management Consulting - were merged into management consultancy Oliver Wyman.[23] Oliver Wyman, along with the two remaining speciality units (NERA Economic Consulting and Lippincott) became a separate subsidiary of Marsh & McLennan known collectively as Oliver Wyman Group.[24]

In September, the Mercer Human Resource Consulting became simply "Mercer".[25] In December, Mercer acquired Höfer Vorsorge-Management, a German actuarial and retirement consulting firm. At the time, the acquisition reportedly gave Mercer the top market position in Germany.[26]

In 2008, Mercer's Italian human capital consulting business merged with Tesi, an Italian competitor. The combined business, Mercer Tesi was noted at the time to be the largest HR consultancy in Italy.[27]

In 2010, Mercer acquired ORC Worldwide, an expert in international work assignments.[28] Also in 2010, Mercer acquired Brecksville, Ohio-based Innovative Process Administration LLC (IPA), a health benefits and technology provider. https://en.wikipedia.org/wiki/Mercer_(consulting_firm) 2/6 3/9/2021 Mercer (consulting firm) - Wikipedia In 2011, Mercer acquired Fort Lauderdale, Florida-based Mahoney & Associates, a defined contribution plan provider.[29] Also in 2011, Mercer acquired Alicia Smith & Associates, a Washington DC-based Medicaid policy consulting firm.[30]

In 2013, Mercer acquired British Columbia-based Hall Consulting Limited (HCL), an HR consultant and salary surveyor focusing on the mining and energy business.[31] Also in 2013, Mercer acquired PricewaterhouseCoopers' pension windup (termination) administration business in Canada,[32] and Global Remuneration Solutions (GRS), a South African compensation and benefits survey data and rewards information provider.[33]

In 2014, Mercer acquired Norwell, MA-based Transition Assist, a private health care exchange specializing in coverage for Medicare-eligible retirees.[34] Also in 2014, Mercer acquired Jeitosa Group International, a business and technology consultancy,[35] and a 34% stake in South Africa-based employee benefits specialist Alexander Forbes.[36] Later that year, Mercer acquired Swiss private markets manager and consultant SCM,[37] and Denarius, a Santiago, Chile-based consulting firm focused on compensation and benefits survey and information products.[38]

In 2015, Mercer made two acquisitions. It acquired Hopkinton, MA-based Comptryx, a workforce metrics company offering surveying, modeling and analytics services,[39] and also acquired HRBS, a provider of career and talent consulting and information services to clients across Asia, particularly Hong Kong, Singapore and mainland China.[40] In that same year, Mercer sold its US defined contribution administration business to Transamerica.[41]

In 2016, Mercer acquired Pillar Administration, Australia from the New South Wales State Government. Pillar was Australia's fourth largest superannuation administration provider, with more than $100 billion in funds under administration across 1.1 million member accounts.[42]

In 2017, Mercer combined its investment and retirement consulting practices into a new Wealth consulting division.[43] In December 2019, Mercer's investment assets under management reached above $300 billion.[44]

After Marsh & McLennan's 2018 purchase of London-based Jardine Lloyd Thompson (JLT), operating in employee benefits and other financial services, the JLT business was integrated into Mercer.[45][46]

See also

List of most expensive cities for expatriate employees

References 1. "Acquisition by Mercer to give new energy to high-flying Synhrgy" (http://www.bizjournals.com/housto n/stories/2004/01/19/story8.html). Houston Business Journals. January 18, 2004. Retrieved November 6, 2015. 2. "Mercer Global Assets Under Management Reaches OCIO Industry Milestone by Passing $300 billion USD" (https://www.nasdaq.com/press-release/mercer-global-assets-under-management-reach es-ocio-industry-milestone-by-passing-%24300). www.nasdaq.com. Retrieved February 3, 2020. 3. "MARSH & MCLENNAN COMPANIE ... (MMC) 10-K" (http://yahoo.brand.edgar-online.com/displayfili nginfo.aspx?FilingID=13243730-16675-67218&type=sect&TabIndex=2&companyid=10226&ppu=%2 52fdefault.aspx%253fcompanyid%253d10226). Edgar Online. Retrieved February 21, 2019.

https://en.wikipedia.org/wiki/Mercer_(consulting_firm) 3/6 3/9/2021 Mercer (consulting firm) - Wikipedia 4. "MERCER RANKED FIRST IN OCIO ASSETS GLOBALLY BY AI CIO MAGAZINE" (https://www.mer cer.com/newsroom/mercer-ranked-first-in-ocio-assets-globally-by-ai-cio-magazine.html). Mercer News Room. Mercer. Retrieved March 18, 2019. 5. "2019 Outsourced-Chief Investment Officer Survey" (https://www.ai-cio.com/surveys/2019-outsource d-chief-investment-officer-survey/9/). AI-CIO. Ai-CIO. Retrieved February 25, 2019. 6. "Acing the Mercer Interview – An Overview of the Firm" (http://managementconsulted.com/consulting -firm-profiles/mercer-interview-101/#). managementconsulted.com. April 8, 2013. Retrieved November 6, 2015. 7. "America's Top Management Consulting Companies" (https://www.thehrdigest.com/americas-top-ma nagement-consulting-companies/). The HR Digest. May 5, 2020. Retrieved August 21, 2020. 8. "Company Profile: Mercer" (https://jobs.actuary.com/profile/mercer/503211/). Actuary Jobs. 9. "Marsh & McLennan Companies, Inc. History" (http://www.fundinguniverse.com/company-histories/m arsh-mclennan-companies-inc-history/). Funding Universe. 10. Woolsey, Christine (March 25, 2000). "Mercer Consulting Group Plans Acquisition of Delta Consulting" (https://www.hrhub.com/doc/mercer-consulting-group-plans-acquisition-of-0001). HR Hub. Retrieved December 28, 2017. 11. Nadler, David A. (January 1, 1996). "Managing the Team at the Top" (https://www.strategy-business. com/article/8745?gko=ee5b1). strategy+business. 12. America, North (June 8, 1999). "Building Leadership Through Teamwork" (https://knowledge.wharto n.upenn.edu/article/building-leadership-through-teamwork-2/). Knowledge@Wharton. 13. Nadler, David (April 23, 1989). "BUSINESS FORUM: MAKING CORPORATIONS SMARTER; Failures Can Be Productive" (https://www.nytimes.com/1989/04/23/business/business-forum-making- corporations-smarter-failures-can-be-productive.html). The New York Times. ISSN 0362-4331 (http s://www.worldcat.org/issn/0362-4331). 14. Pearlstein, Steven (June 29, 1998). "REINVENTING XEROX CORP" (https://www.washingtonpost.c om/archive/politics/1998/06/29/reinventing-xerox-corp/f9ef9410-d8b5-4462-a1e3-8767232227ae/). Washington Post. ISSN 0190-8286 (https://www.worldcat.org/issn/0190-8286). 15. Schneyer, Fred (January 26, 2005). "Storms to Run Mercer HR Consulting in MMC Reorg" (https://w ww.plansponsor.com/storms-to-run-mercer-hr-consulting-in-mmc-reorg/). PLANSPONSOR. 16. Woolsey, Christine (March 24, 2000). "Mercer Consulting Group Plans Acquisition of Delta Consulting" (https://www.hrhub.com/doc/mercer-consulting-group-plans-acquisition-of-0001). HR Hub. 17. "A HISTORY OF FORWARD THINKING" (https://www.oliverwyman.com/our-culture/our-values/our-h istory.html). Oliver Wyman. 18. "Directors Exert More Influence in Boardroom" (https://news.usc.eduhttps//news.usc.edu/23451/Dire ctors-Exert-More-Influence-in-Boardroom/). University of Southern California News. April 4, 2005. 19. "Partners in wealth" (https://www.economist.com/special-report/2006/01/21/partners-in-wealth). The Economist. ISSN 0013-0613 (https://www.worldcat.org/issn/0013-0613). 20. "Mercer to adopt new name" (https://www.businessinsurance.com/article/20020405/NEWS/2000693/ mercer-to-adopt-new-name). Business Insurance. April 5, 2002. Retrieved August 21, 2020. 21. "HR Figures Prominently in Stock Exchange Scandal" (https://web.archive.org/web/2012072214422 0/http://hr.blr.com/HR-news/Compensation/Bonus-Payments/HR-Figures-Prominently-in-Stock-Exch ange-Scandal/). hr.blr.com. May 26, 2004. Archived from the original (http://hr.blr.com/HR-news/Com pensation/Bonus-Payments/HR-Figures-Prominently-in-Stock-Exchange-Scandal/) on July 22, 2012. Retrieved November 6, 2015. 22. "MMC Announces Organizational Changes at Mercer" (https://irnews.mmc.com/news-releases/news -release-details/mmc-announces-organizational-changes-mercer/). Marsh & McLennan Investor News.

https://en.wikipedia.org/wiki/Mercer_(consulting_firm) 4/6 3/9/2021 Mercer (consulting firm) - Wikipedia 23. "Mercer units combine to form new consultancy" (https://www.businessinsurance.com/article/200705 09/NEWS/200010177/mercer-units-combine-to-form-new-consultancy). Business Insurance. May 9, 2007. Retrieved August 24, 2020.(subscription required) 24. "Marsh & McLennan Companies Annual Report" (https://news-investors.mmc.com/static-files/7e5145 09-a658-43a9-a48f-fe518f33e8bb). 25. "Mercer HR Consulting rebrands as Mercer" (http://www.professionalpensions.com/professional-pen sions/news/1440829/mercer-hr-consulting-rebrands-mercer). professionalpensions.com. September 12, 2007. Retrieved November 6, 2015. 26. "Mercer acquires Höfer Vorsorge-Management in Germany" (http://news.top-consultant.com/UK/New s-4319.html). news.top-consultant.com. December 19, 2007. Retrieved November 6, 2015. 27. "Mercer & Tesi deal creates Italian market leader" (http://www.growthbusiness.co.uk/news-and-mark et-deals/mergers-and-acquisitions/744481/mercer-and-tesi-deal-creates-italian-market-leader.thtml). growthbusiness.co.uk. October 16, 2008. Retrieved November 6, 2015. 28. "Mercer acquires ORC Worldwide to strengthen its capabilities in global workforce management" (htt p://www.hrmagazine.co.uk/article-details/mercer-acquires-orc-worldwide-to-strengthen-its-capabilitie s-in-global-workforce-management). hrmagazine.co.uk. June 24, 2010. Retrieved November 6, 2015. 29. "Mercer buys Mahoney & Associates' practices" (http://www.bizjournals.com/southflorida/news/2011/ 07/20/mercer-buys-mahoney-associates.html). southfloridabusinessjournal.com. July 20, 2011. Retrieved November 6, 2015. 30. "Mercer acquires Alicia Smith & Associates in D.C." (http://www.bizjournals.com/washington/news/20 11/11/16/mercer-acquires-alicia-smith.html) Washington Business Journal. November 16, 2011. Retrieved November 6, 2015. 31. "Mercer acquires Hall Consulting" (http://www.benefitscanada.com/news/mercer-acquires-hall-consul ting-business-36364). growthbusiness.co.uk. October 16, 2008. Retrieved November 6, 2015. 32. "Mercer to buy PwC's Canadian pension windup business" (http://www.businessinsurance.com/articl e/20130808/NEWS03/130809853/mercer-to-buy-pwcs-canadian-pension-windup-business). businessinsurance.com. August 8, 2013. Retrieved November 6, 2015. 33. "Mercer in deal for Global Remuneration Solutions" (http://www.mindbench.com/blogs/mercer-in-deal -for-global-remuneration-solutions--801633194). mindbench.com. September 3, 2013. Retrieved November 6, 2015. 34. "Mercer expands health care exchange offerings with acquisition" (http://www.businessinsurance.co m/article/20140303/NEWS03/140309988/mercer-expands-health-care-exchange-offerings-with-acqu isition). businessinsurance.com. March 3, 2014. Retrieved November 6, 2015. 35. "Mercer Acquires Jeitosa Group International" (https://web.archive.org/web/20160304083003/http://w ww.workforce.com/articles/20858-mercer-to-acquire-jeitosa-group-international). workforce.com. October 27, 2014. Archived from the original (http://www.workforce.com/articles/20858-mercer-to-ac quire-jeitosa-group-international) on March 4, 2016. Retrieved November 6, 2015. 36. "Mercer to buy Alexander Forbes stake" (http://www.bdlive.co.za/business/financial/2014/06/24/merc er-to-buy-alexander-forbes-stake). bdlive.co.za. June 24, 2014. Retrieved November 7, 2015. 37. "Mercer acquires Swiss private markets manager/consultant" (http://www.pionline.com/article/201411 21/ONLINE/141129964/mercer-acquires-swiss-private-markets-managerconsultant). Pensions & Investments Online. June 24, 2014. Retrieved November 7, 2015. 38. "Marsh & McLennan Unit Mercer Buys Denarius" (http://www.rttnews.com/2431186/marsh-mclennan -unit-mercer-buys-denarius.aspx/). rttnews.com. December 15, 2014. Retrieved November 7, 2015. 39. "Mercer acquires Comptryx, specialist in HR metrics" (http://www.consultancy.uk/news/2709/mercer- acquires-comptryx-specialist-in-hr-metrics). 40. "Marsh & McLennan Arm to Offer Career Consulting in Asia" (http://www.nasdaq.com/article/marsh- mclennan-arm-to-offer-career-consulting-in-asia-cm527769).

https://en.wikipedia.org/wiki/Mercer_(consulting_firm) 5/6 3/9/2021 Mercer (consulting firm) - Wikipedia 41. "Transamerica to buy Mercer's defined contribution administration business" (http://www.businessins urance.com/article/20150925/NEWS03/150929872/Transamerica-to-buy-Mercers-defined-contributio n-administration-business). Business Insurance. Retrieved July 7, 2020. 42. "Mercer acquires Pillar Administration" (https://www.investmentmagazine.com.au/2016/12/mercer-ac quires-pillar-administration/). Investment Magazine. December 2, 2016. Retrieved May 2, 2019. 43. Comtois, James (March 20, 2017). "Mercer combines units to meet clients' shifting need" (http://ww w.pionline.com/article/20170320/PRINT/303209981/mercer-combines-units-to-meet-clients-shifting-n eed). Pensions & Investments. Retrieved December 19, 2017. 44. "Mercer Global Assets Under Management Reaches OCIO Industry Milestone by Passing $300 billion USD" (https://www.mercer.com/newsroom/mercer-global-assets-under-management-reaches- ocio-industry-milestone-by-passing-300-billion-usd.html). www.mercer.com. Retrieved July 7, 2020. 45. Burton, Lucy (September 18, 2018). "Bumper payouts and job cuts on the cards as US giant Marsh snaps up JLT for £4.9bn" (https://www.telegraph.co.uk/business/2018/09/18/jardinelloyd-thompson-b ought-bymarsh-mclennanfor-43bn/). The Telegraph. ISSN 0307-1235 (https://www.worldcat.org/issn/ 0307-1235). Retrieved January 26, 2020. 46. "Marsh & McLennan Welcomes Jardine Lloyd Thompson" (https://www.mercer.com/about-us/jlt/mmc -welcomes-jlt.html). Mercer. Retrieved January 26, 2020.

External links

Official website (https://www.mercer.com/) Mercer Comptryx site (http://comptryx.com/)

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