GLOBAL - Mercer Human Resource Consulting is to reorganise its management structure, folding the UK and Continental Europe into one unit and creating three regional units - Europe, Asia and the Americas.
The single European unit is to be headed up by Simon O’Regan. O’Regan, who is currently UK chairman and CEO, Mercer Human Resource Consulting, was brought to the UK from Mercer’s Australian operation in October of last year, replacing David Barford who led the UK business from1995-2004.
Edouard Merette, currently head of the Irish and Continental Europe (ICE), based in Geneva, is relocating to Singapore to head up the Asian practice. Rich Nuzum relocated to the US in March from Singapore to head up the US investment consulting practice. Nuzum was head of Mercer’s Asian investment consulting practice.
The US, Canada and South America will form a single business unit on the back of the organisational changes.
The restructure is said to be aimed at better integrating the business. A further rationale for the changes is to better serve the firm’s multi-national corporation clients.
Mercer held a worldwide partners meeting in the US in April to discuss the changes with management. A key speaker was ex-IBM CEO, Louis Gerstner, who addressed Mercer staff on how to cope with organisational business change.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.