UK - Brian Storms, global CEO of Mercer Human Resource Consulting is scouting the market for multi-manager acquisition targets. Mercer HR is currently in the process of rolling out its new investment management business, Mercer Global Investments.
Global Pensions exclusively reported Mercer’s plans to roll out a multi-manager business in October, 2004.
“We will grow it organically around the world and we will consider making acquisitions where possible,” said Storms. “We want to be a substantial player in multi-manager products worldwide.”
Storms said that he has already started looking at acquisitions internationally, but refused to comment on which markets he is particularly interested to tap.
As to where the most potential for growth in multi-manager lies, Storms responded: “Certainly the US is the strongest at the moment, but we are seeing continental Europe emerging pretty rapidly.
We think there are opportunities in the UK, and we think there are very big opportunities in Japan.”
As to what growth Mercer Global Investments is targeting, Storms said: “I am loathed to put numbers in the newspapers because that’s not how we keep score in a public company, but we are making big strategic decisions to build this and we have aspirations to be a market leader.”
Mercer has long had a multi-manager business in Australia, which it has only most recently rebranded as Mercer Global Investments. Mercer Global Investments in Australia is headed up by Gary Burke, and Barry McInerney has been put in charge of the US business. The appointment of a global head is still pending.
Separately, Storms said that Mercer was in discussions with clients over how to reinvent the Global Investment Forum, which was closed late last year to eliminate perceived conflicts of interest.
“Our clients valued them highly, but obviously things have changed, and our colleagues are being challenged to create an alternative to leverage our knowledge,” he said.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.