EUROPE – Mercer has announced a reorganisation of its investment division, replacing the current head of its European investment business Tom Geraghty and creating two new senior roles targeting global emerging markets.

The changes will see Geraghty become chief executive of the consultancy’s Irish business, replaced by current global CIO Andrew Kirton as head of the European investment business from July onwards.

Additionally, the firm’s current global leader of manager research Jeff Schutes has been promoted to head of the growth markets investment business – his brief encompassing countries in Asia, the Middle East, Turkey, Africa and Latin America.

The newly created position will be complemented by Akhil Seth, most recently global CIO inside the retirement business, being named head of Mercer’s growth markets retirement business.

Geraghty, who has been with the consultancy 13 years and previously worked for the Boston Company prior to moving back to Ireland, will replace retiring Ireland chief executive Paul O’Faherty.

Commenting on Geraghty’s appointment, president of the EuroPac region said: “Tom not only brings to this position his investments knowledge but can provide leadership to assist our clients on the broader issues faced by human resources and finance directors regarding human capital and benefit strategies.”

Julio Portalatin, president and chief executive at Mercer, said of the reorganisation: “One of our objectives is to rotate responsibilities to expand the breadth of our leaders’ expertise and to gain the benefit of cross-fertilisation of experience across investment disciplines.

“The appointment of Andrew as head of Mercer’s investments business in Europe assigns one of our most experienced executives to this important market.”

Kirton joined the company 15 years ago and was named global CIO in 2010, while Schutes has worked for the US investment consulting team in the past, and Sethi has worked as CFO for Mercer’s European and Asian business prior to his role as global CIO for retirement.