Germany: Mercer takes on 38 PwC pension staff
GERMANY – Mercer Human Resource Consulting has taken on up to 38 pension staff in a deal with consulting firm PricewaterhouseCoopers.
Mercer said it has bought PwC Deutsche Revision AG, the actuarial experts’ opinion activities of PwC. Financial terms of the deal were not disclosed.
The agreement will add up to 33 PwC pension consultants and five support staff to Mercer’s German operations.
The deal follows Mercer’s acquisition of KPMG’s pension consulting division in the first quarter of this year. The PwC transaction will take Mercer’s German payroll to around 250.
"The addition of PwC’s actuarial opinions division, following the successful completion of the KPMG transaction, further strengthens and consolidates our retirement and benefits business in the key German market," said Mercer executive vice president Edouard Merette.
"We have built an outstanding talent base in Germany and are strongly positioned to address the varied and complex retirement and benefits needs of domestic employers, German headquartered multinationals and global organizations with operations in Germany."
PwC senior actuaries, Karl-Heinz Kilian and Stefan Oecking, will join Mercer’s German management team. They will work with country manager Marco Arteaga.