Mercer today announced three senior-level appointments to align its Investments and Retirement organizations to take advantage of opportunities and provide for leadership continuity in Europe and in the Growth Markets.
- Andrew Kirton has been appointed head of Mercer’s Investments business in Europe, succeeding Tom Geraghty, who, as previously announced, has assumed the post of market leader and CEO for Ireland.
- Jeff Schutes has been appointed head of Mercer’s Investments business in the Growth Markets, a newly created position, which includes Asia, Middle East and Turkey, Africa, and Latin America.
- Akhil Sethi has been appointed head of Mercer’s Retirement business in the Growth Markets, a newly created position
“We are pleased to fill these important positions with senior leaders who have a track record of success at Mercer and have deep understanding of the growth dynamics of their markets,” said Julio A. Portalatin, President and CEO of Mercer. “One of our objectives is to rotate responsibilities in order to expand the breadth of our leaders’ expertise and to gain the benefit of cross-fertilization of experience across investment disciplines. The appointment of Andrew as head of Mercer’s Investments business in Europe assigns one of our most experienced executives to this important market. The newly created roles for Jeff and Akhil reflect our commitment to invest in and maximize our opportunities in the Growth Markets.”
Despite all the Euro-crisis news, Mercer's European Investments business continues to grow and prosper and is now larger than Mercer's total global Investments business in 2006. The trajectory of Mercer's business in the Growth Markets is very strong, and this area is strategically important to the planned expansion of Mercer’s global Investments business.
“These appointments reinforce Mercer’s commitment to ensure that we understand individual client needs, reflect local market dynamics, and tailor our global capabilities to arrive at the best solution for the specific circumstances,” said Phil de Cristo, President of Investments at Mercer. “Client needs are changing as a result of global market trends, including market volatility and the demand for stronger governance models. Many clients have been attracted to Mercer because our delegated solutions allow them to leverage our global investment research and portfolio implementation to complement their in-house staff and investment committee structures. Mercer can tailor these capabilities to the specific challenges faced by our clients based in Europe as well as to the special dynamics at play in the Growth Markets. “