Global consulting leader Mercer, a wholly owned subsidiary of Marsh & McLennan Companies, has acquired Pillar Administration (Pillar), establishing itself as one of the largest outsourced superannuation providers in Australia. Pillar is one of Australia's leading superannuation administration providers with more than $100 billion in funds under administration across 1.1 million member accounts. In May this year, the New South Wales government passed legislation paving the way for Pillar to be privatised in order to secure the administrator's long-term future. The decision to appoint Mercer follows an extensive competitive process, resulting in the creation of an outsourcing provider offering competitive, differentiated and high quality administration and related services to the public sector, industry and corporate superannuation funds. Martine Ferland, Mercer's EuroPac President, said Mercer had presented a compelling bid that reaffirms Mercer's global commitment to growing our superannuation outsourcing business in Australia. "It's an area we are investing in because we are committed to continuing to deliver excellent service and innovation, at scale, to our clients right across the superannuation service chain. We also want to provide our people with new opportunities and a great place to work." Ben Walsh, Mercer's Managing Director & Pacific Market Leader, agreed by saying "the acquisition is on point for our strategy. We will add further value to our clients and to members through the investments we are making in our business and through strategic partnerships, alliances and acquisitions such as this one." "Specifically, we know many super funds are seeking a proactive and sustainable business partner who can provide superior administration and related services, reduce costs and help funds get closer to members. For this reason we have invested heavily in our people capability, process innovation and technologies to ensure we are ready for these opportunities. This deal provides Mercer with the capability and scale to enhance our clients' relationships with their members."