Mercer has announced a series of leadership appointments related to its acquisition of Jardine Lloyd Thompson Group.
The firm said the appointments span across the UK and Europe and will become effective upon the closing of the transaction between Mercer's parent company, Marsh & McLennan Companies, and JLT, which remains subject to regulatory approval.
The appointments include:
Mercer UK Wealth
Additions to the existing UK Wealth Leadership Team, led by Mercer UK wealth leader Benoit Hudon, include:
- Karen Phillips, managing director of wealth management at JLT, will become head of Mercer's UK financial planning business, focusing on growing the combined financial planning businesses to meet ever increasing needs for financial advice.
- Malcolm Reynolds, managing director of JLT's UK administration services, will become client leader for Mercer's UK administration services and will work alongside Mercer UK & Ireland administration leader, Rich Tuff, to combine the two administration capabilities.
- Steven Robinson, managing director of trustee and corporate consulting at JLT, will lead the mid-market segment for Mercer's UK wealth business. Robinson will also be responsible for developing Mercer's overall offering, including insured defined benefit arrangements, for the combined organisation in the UK.
Mercer Delegated Solutions - Europe
- Mark McNulty, managing director of investment solutions at JLT, will take on the role of European head of clients for Mercer's delegated solutions business. In this role, McNulty will be responsible for developing Mercer's client strategy, overall client management and servicing for Mercer's expanding delegated solutions client base across Europe. McNulty will report to Mercer international commercial leader for delegated solutions Mick Dempsey.
Mercer UK Technology
- Teresa Beach, currently managing director of JLT Technology Solutions and a member of the Mercer/JLT integration team, will continue to lead the UK Technology Solutions reporting to Bala Viswanathan, who will become Mercer's chief operating officer. Beach will also provide ongoing senior leadership support on the overall integration of the firms.
Mercer international president David Anderson said: "By combining Mercer and JLT talent and capabilities, we will build on our shared value of putting clients and our people at the heart of everything we do.
"These new leaders will bring considerable knowledge and experience of the JLT business, its clients and people, to our already strong leadership teams. Together they will be core to ensuring the successful integration of our combined businesses. Pending the outcome of the regulatory process, we look forward to welcoming our new colleagues to the Mercer team."
Michael Eakins has been appointed as chief investment officer (CIO) at Phoenix Group, subject to regulatory approval and completion of the acquisition of ReAssure.
Nikhil Rathi has been appointed as chief executive of the Financial Conduct Authority (FCA) following Andrew Bailey’s move to the Bank of England as governor earlier this year.
Barnett Waddingham has promoted nine to partner level in response to growing client demand and to maintain market-leading service delivery for clients.
Barnett Waddingham non-executive chairwoman Elizabeth Renshaw-Ames has been named as trustee chairwoman of Aviva Master Trust.