Mercer to Acquire Vanguard’s US Outsourced Chief Investment Officer Business
06 12월 2023 - 3:02AM
Business Wire
Mercer, a global leader in reshaping retirement and investment
outcomes and a business of Marsh McLennan (NYSE: MMC), today
announced that it reached an agreement to acquire Vanguard’s
outsourced chief investment officer (OCIO) business that provides
investment management services for not-for-profit organizations and
other institutional investors in the United States.
Commenting on the acquisition, Marc Cordover, US Investments and
Retirement Leader, Mercer, said: “Vanguard’s differentiated
investment philosophy, strength in the not-for-profit sector, and
client-centric approach complements our global capabilities across
OCIO and managing alternative asset classes.”
Mr. Cordover continued, “We know institutional investors, and
not-for-profit organizations specifically, continue to face a range
of challenges. They require robust solutions and global expertise
to stay ahead of the curve. We are excited to welcome to Mercer the
talented investment professionals already supporting this business.
Together, we will help clients unlock new and emerging investment
opportunities, navigate risk, and pursue compelling returns.”
John James, Managing Director of Vanguard’s Institutional
Investor Group, said, “We are confident our OCIO clients will
continue to enjoy high-quality investment solutions, ably stewarded
by the mission-driven professionals who will continue to serve
them. With Mercer’s expertise, capabilities, and commitment to
driving optimal client outcomes, we believe it is well positioned
to help our OCIO clients navigate the evolving OCIO landscape.”
As part of the agreement, Vanguard’s roughly 120-person OCIO
team are expected to transfer to Mercer as full-time employees,
upon completion of the transaction, which is expected to be in the
first quarter of 2024.
About Mercer
Mercer believes in building brighter futures by redefining the
world of work, reshaping retirement and investment outcomes, and
unlocking real 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), the
world’s leading professional services firm in the areas of risk,
strategy and people, with more than 85,000 colleagues and annual
revenue of over $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 mercer.com. Follow Mercer
on LinkedIn and X.
About Vanguard
Founded in 1975, Vanguard is one of the world's leading
investment management companies. The firm offers investments,
advice, and retirement services to individual investors,
institutions, and financial professionals. Vanguard operates under
a unique, investor-owned structure where Vanguard fund shareholders
own the funds, which in turn own Vanguard. As such, Vanguard
adheres to a simple purpose: To take a stand for all investors, to
treat them fairly, and to give them the best chance for investment
success. For more information, visit vanguard.com.
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Media: Cassie Lenski Mercer +1 (469) 841-8999
Cassie.lenski@mercer.com
Media Relations Vanguard +1 (610) 669-5002
vanguard_media_relations@vanguard.com
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