Mercer has restructured its hedge fund investment unit to create two new leadership positions: CIO and deputy CIO.
The global consulting and asset management firm has appointed US-based internal staff members to both roles.
Dave McMillan, a Mercer partner and formerly director of hedge funds, has been named as CIO. He joined the investment giant in 2011 as a longtime manager at Hammond Associates, which Mercer acquired. The company has since become Mercer Hammond, an endowment, foundation, and health care fund specialist within the parent firm.
As CIO of hedge funds, McMillan will continue to report to CIO for Alternatives Bill Muysken, a spokesperson told CIO.
His second-in-commmand was also drawn from the former Hammond Associates talent pool. Stephen Ewen joined Mercer along with McMillan in 2011, having spent five years as a senior research analyst with the acquired company. Since then, St. Louis, Missouri-based Ewen has served as a Mercer principal with the hedge fund investments and research team.
“Dave and Stephen will lead the Mercer team looking after the hedge fund programs that Mercer manages for its North American clients,” a spokesperson said.
The appointments were made effective immediately, according to the firm.