Mercer Signs Agreement to Acquire Summit Strategies Group
14 8월 2018 - 10:02PM
Business Wire
Acquisition will enhance Mercer’s
capabilities in not-for-profit segment
Mercer, a global consulting leader in advancing health, wealth
and career, and a wholly owned subsidiary of Marsh & McLennan
Companies (NYSE: MMC), has signed a definitive agreement to acquire
Summit Strategies Group (“Summit”), a leading investment consultant
headquartered in St. Louis, Missouri.
“Summit is a strong investment consultant in the not-for-profit
space, providing notable alternatives capabilities to hospitals and
foundations,” said Rich Nuzum, President, Mercer’s global Wealth
business. “The depth and breadth of Summit’s expertise, coupled
with our offerings, will benefit our collective client bases. We
look forward to integrating our teams and offerings to provide a
wider array of services.”
Founded in 1995 to provide high value‐added investment
consulting services to institutional clients, Summit’s experienced
team of results‐driven investment professionals provide focused and
customized attention to its clients. With approximately $160
billion under advisement as of December 31, 2017, Summit has been
ranked as a Greenwich Quality LeaderSM in 2015 and 2016 by
Greenwich Associates. Summit’s services include traditional
consulting (for defined benefit pension plans, health care systems,
endowments and foundations), defined contribution services and
outsourced chief investment officer (OCIO) support.
“We believe that having a global research footprint and a robust
technology platform will better position us to support our clients.
We’re excited to join Mercer and be able to bring their research
capabilities and spectrum of holistic offerings to our clients,”
said Steve Holmes, Principal and Founder, Summit. “We are eager to
integrate Summit’s innovative and customized solutions and our
unwavering commitment to a service culture with Mercer’s global
research network and its client experience.”
This transaction is subject to customary conditions to closing
and is expected to close in Q4 2018.
About Mercer
Mercer delivers advice and technology-driven solutions that help
organizations meet the health, wealth and career needs of a
changing workforce. Mercer’s more than 23,000 employees are based
in 44 countries and the firm operates in over 130 countries. Mercer
is a wholly owned subsidiary of Marsh & McLennan Companies
(NYSE: MMC), the leading global professional services firm in the
areas of risk, strategy and people. With nearly 65,000 colleagues
and annual revenue over $14 billion, through its market-leading
companies 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.
About Summit Strategies Group
Summit Strategies Group is one of the industry’s leading
investment consultants focused on developing long-term partnerships
with institutional investors. Founded in 1995, they have been
serving clients, including endowments and foundations, hospitals
and health care systems, public funds and corporations (defined
benefit and defined contribution plans), for more than 20 years.
Summit Strategies Group is a traditional full-service consulting,
defined contribution and outsourced CIO services. Their extensive
in-house resources and research capabilities help clients meet
their investment objectives. The team includes highly experienced
professionals in the areas of consulting, capital markets and risk
management, manager research, operational due diligence, and
performance measurement and analytics.
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MercerAlayna Francis, +44 0207 178
3378Alayna.Francis@mercer.com
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