Mercer Completes Acquisition of Summit Strategies Group
19 11월 2018 - 11:30PM
Business Wire
Deal enhances leading position for Mercer in
investment consulting for not-for-profit, pensions, alternatives
and OCIO markets
Mercer’s global research capabilities
complement Summit’s client expertise in healthcare, endowment and
foundations segments
Mercer, a global consulting leader in advancing health, wealth
and career, announced that it completed its acquisition of Summit
Strategies Group (“Summit”), on November 15, 2018.
“We are pleased to announce the closing of this transaction, as
we believe Summit’s high-touch client service experience coupled
with Mercer’s global investment capabilities and world-class
research will benefit our collective clients.” said Rich Nuzum,
President of Mercer’s global wealth business. “We value client
relationships and we are committed to maintaining the level and
quality of service that Summit has always delivered. Clients will
continue to work with their existing consulting team while also
accessing Mercer’s global breadth and resources.”
On August 13, 2018, Mercer announced it had signed definitive
agreements to acquire Summit as well as the investment consulting,
alternatives consulting and wealth management operations of
Pavilion Financial Corporation. The close of the Pavilion
acquisition is expected during Q4 2018.
“What I appreciate most about this combination are the broad,
tangible resources we will bring to clients. The breadth and
depth of the on-line manager research generated daily by 150
dedicated research professionals is staggering. I have a client
that wants to pursue a fund of one structure to reduce the
administrative burden of their investment program. At Summit,
we would have figured out how to do this, but Mercer’s already done
it multiple times and has all of the necessary steps lined
out.” said Steve Holmes, Principal and Founder, Summit.
“Mercer is an esteemed organization with real resources that
provide demonstrable benefits to clients. We’ve created a
formidable, positive option for the marketplace.”
Terms of the agreement were not disclosed.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20181119005419/en/
Alayna Francis+44 0207 178
3378Alayna.Francis@mercer.com
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