IRELAND – John Feely, former chairman of the Irish Association of Pension Funds, has joined Mercer to head its new retirement solutions arm in Ireland.

It said the new unit, Mercer Retirement Solutions, would complement its advisory services and initially offer a defined contribution plan in a “one-stop shop” approach.

It said: “John Feely has joined Mercer to lead this new development.” Feely was formerly head of strategy and business development at Abbey National Financial and Investment Services and a board member of the European Federation for Retirement Provision.

Mercer said the new unit would provide access to investment managers, selected via its manager research capability.

“Today’s launch is a significant development for Mercer’s business in Ireland,” said Paul O’Faherty, the firm’s chief executive in Ireland.

It added that the implementation of the EU’s directive on occupational pensions and the need to develop integrated retirement solutions for clients operating across Europe “offers the potential for significant growth opportunities”.

Mercer would “also actively test the feasibility of extending the capabilities developed in Ireland to provide solutions to multinational companies operating in Europe and to support the delivery of retirement services to clients in individual countries”.