A global restructuring of Mercer’s investment consulting business will bundle the firm’s investment and retirement capabilities as its investment president exits.
Phil de Cristo is to step down from his role after more than 10 years at the consulting firm, Mercer confirmed this week.
“My decision to leave created
an opportunity to look at Mercer’s overall structure and create better
alignment for our clients,” de Cristo said in an interview with CIO.
The changes, which will
officially take place on January 1, include merging Mercer’s investment and
retirement consulting practices into a newly-created wealth group, as well as
creating a new investment research and management division.
formerly head of Mercer’s EuroPac investment division, will take over the
latter effort as global CIO.
“We’ve concentrated our
investment capabilities—our portfolio management, our investment research, and
our alternatives capability—into a centralized organization under Andrew
Kirton,” de Cristo said. “That will allow us to continue to be relevant to our
core constituency who are looking for us to provide leading edge investment
The combination of Mercer’s
investment and retirement consulting services, meanwhile, will merge its
actuaries, plan design experts, investment consultants, and outsourced-CIO
(OCIO) practitioners. In this US, this group will be led by Tom Murphy,
currently head of OCIO.
“What we hope to do is be able
to engage with clients in a more holistic way,” de Cristo said. “We want to
bring clients a one-stop shop of capabilities.”
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