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