SWITZERLAND - Mercer Human Resource Consulting has acquired Swiss consulting firm Pendia Associates. Pendia specialises in retirement and investment consulting and pensions administration services. Financial terms were not disclosed. “With the combined operations, Mercer will become one of the top consultancies of its type in Switzerland,” Mercer said. The combined entity would be headed by Pendia managing director Markus Meier. Pendia has 55 employees in Zurich and Nyon. Founded in 1985 as a Swiss Life subsidiary, it became an independent partnership in early 2006 following a buyout. It has around 100 clients, with some CHF25bn under advice. Mercer has approximately 100 employees in Switzerland and offers retirement, investment and HR consulting and data services operating through its offices in Geneva and Zurich. The move is part of Mercer’s global growth strategy. “With its large share of multinational companies and the size of its occupational pensions market, Switzerland is a key strategic market for us”, said Europe head Simon O’Regan. “Pendia is an excellent fit with our business. Its services complement our own and we can achieve the critical mass we are seeking. The added strength in pension outsourcing is a particular benefit in the context of the growing client demand for bundled services.” He added: “Pendia has a strong reputation in the market and has many top-name multinational clients that can benefit from the greater resource and breadth of services in a global organisation like ours. We are delighted to be joining forces.” Meier commented: “Mercer has a formidable reputation globally. We’re excited to be part of this leading organisation where the combination of Pendia’s local strength and Mercer’s extensive resources will give us a unique differentiator in the Swiss marketplace.”