GERMANY - Mercer has acquired Höfer Vorsorge-Management, a German actuarial and retirement consulting firm, expanding its 300-strong employee base to more than 500.
Michele Burns, global chairman and chief executive officer at Mercer, said: "Germany is key to Mercer's global growth, not only as Europe's largest economy, but also as an important base for multinational companies.
"The combined company will offer our German and multinational clients a full spectrum of retirement consulting services, M&A consulting, international consulting including health and benefits advice for international operations, investment consulting and integrated financial management consulting."
Mercer bought the business from its owners and managing directors, Prof Dr Reinhold Höfer and Dr Hugues Höfer, who added: "We have joined Mercer in the interests of both our clients and our staff. In particular, as part of Mercer we will be in a position to offer an excellent range of global consulting services to our increasing number of international clients."
The acquisition will be effective from 1 January 2008.
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