GERMANY - Mercer Investment Consulting is looking to capitalise on bear market fears among European institutional investors by opening a new office in Germany.
Mercer Human Resource Consulting already has offices in Frankfurt, Stuttgart, Munich, Düsseldorf, Hanover and Hamburg, which provide actuarial and benefit consulting services. However, this is the first time that the firm has provided a local service in investment consulting.
The launch follows the appointment of Herwig Kinzler and Erik Crawford as senior investment consultants based in Frankfurt.Both have joined Mercer from Towers Perrin in Germany where they were senior consultants in the asset consulting practice.
Kinzler, who heads the new operation, has more than 10 years experience in investment consulting. His main responsibility is to oversee advice on investment strategy, manager selection and asset-liability-modelling.
Crawford worked for Towers Perrin from 2001 to 2003 as a senior consultant in Frankfurt. Before that, he was an associate, investment management, with Goldman Sachs in Germany.
We're delighted to have secured two respected investment consultants to help us build this new German operation which will strengthen our overall presence in Continental Europe, said Divyesh Hindocha, head of Mercer’s Ireland & Continental Europe practice.
This is the latest in a series of European expansions for Mercer - in the last 12 months we've established local operations in France and Austria as well.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers