US- Mercer Global Investments (MGI), the fund of managers (FoM) business of Mercer Human Resources Consulting has launched its US business.
MGI will provide investment services as a stand alone and in tandem with bundled offerings, including benefits administration, actuarial and consulting services through Mercer’s other divisions. MGI purchases its manager research from Mercer Investment Consulting, but manager selection, governance and staffing remain separate from the investment consulting side.
Barry McInerney (pictured), formerly head of Mercer Investment Consulting’s US business, was previously named head of the US MGI business. Ravi Venkataraman has been named CIO of the US operations. MGI will report to Brian Storms, CEO of Mercer Human Resource Consulting.
“The global multi-manager market is expanding dramatically, and Mercer is uniquely positioned to build a leading investment platform in this exciting growth segment,” Storms said. “Mercer is already a major player in the multi-manager arena thanks to the resounding success of our Australian Master Trust business. With MGI off to a promising start in the US, and plans well under way for expansion into the UK, Ireland and Continental Europe, Japan, and Canada, we expect this to be an important growth business for us.”
MGI’s US headquarters will be Norwood, Massachusetts with offices in New York and Chicago.
Mercer Human Resource Consulting earlier this year announced that it would hive off the FoM services that became known as MGI from its Australian operations and provide service in Australia and the US. The new offering is in line with Mercer’s stated goal of establishing a international FoM business, as reported exclusively by Global Pensions in October last year.
MGI also has offices in Melbourne and Sydney.
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