NEW YORK — Marsh McLennan (NYSE: MMC), the world’s leading risk, strategy and people professional services firm, today announced that its Mercer business has completed the merger of BT Super into Mercer Super Trust, creating one of the major companies in Australia competing super funds. Mercer today also announced the completion of the acquisition of Advance Asset Management Limited, further expanding its capabilities as Australia’s leading investment multi-manager.
Mercer Super Trust is now one of the 15 largest funds in Australia with approximately 850,000 members and total assets under management of $63 billion*. Mercer is one of the world’s leading retirement advisors and investment managers with $345 billion in assets under management and $16.5 trillion in retirement assets under advisement.*
“Redefining retirement and preparing for the new longer-life economy is a priority for Mercer and our clients,” said Martin Ferland, president and CEO of Mercer. “Today we are taking a significant step in our journey to build better financial futures and are delighted to offer hundreds of thousands of Australians greater investment choice and an enhanced member experience.”
Members will also have access to additional benefits and support services, including Care & Living with Mercer and free limited financial advice relating to their superannuation, and many members of the merged Mercer Super Trust will benefit from significant fee reductions.
David Bryant, chief executive of Marsh McLennan Pacific and president of Mercer Pacific, said the merger would transform the superannuation industry ultimately to the benefit of Australians.
“We promised members that we would provide them with a market-leading proposition in terms of benefits, performance and pricing, and today we are delivering on that promise,” said Mr. Bryant.
“Leveraging our global scale and the insights of our team of approximately 2,000 investment professionals worldwide, Mercer Super members will benefit from being part of one of Australia’s most competitive super funds, and this is just the beginning.”
*Based on assets under management and assets under advice as of December 31, 2022; shown on a combined basis for BT Super and Mercer Super.
About Marsh McLennan
Marsh McLennan (NYSE: MMC) is a leading global risk, strategy and people professional services firm. The company’s more than 85,000 colleagues advise clients in 130 countries. With annual revenues of more than $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 sophisticated risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities. Mercer provides advice and technology-driven solutions that help organizations redefine the world of work, transform retirement and investment outcomes, and unlock health and well-being for a changing workforce. Oliver Wyman serves as a key strategic, economic and brand advisor to private sector and government clients. For more information, visit marshmclennan.com and follow us on LinkedIn and Twitter.
Mercer believes in building a brighter future by redefining the world of work, transforming retirement and investment outcomes, and unlocking true 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), a leading global risk, strategy and people professional services firm with 85,000 colleagues and annual revenue of more than $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.
Check out the source version on businesswire.com: https://www.businesswire.com/news/home/20230403005586/en/
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