Aon loses out as Mothercare hires Mercer
UK - Retailer Mothercare has appointed Mercer Investment Consulting to provide investment advice – resulting in a loss for Aon Consulting.
Mercer said in a statement that it has been awarded the job to advice the company’s two schemes, which cover around 1,000 employees and are worth around 115 million pounds.
Commenting on Aon, Mothercare’s pension fund manager Annie Brent said: “We were not particularly pleased with their performance.” She added: "We regularly review all our consultants. We interviewed five investment advisors and decided that Mercer was the most appropriate to go for."
Aon declined to comment.
Mercer's lead investment consultant, Steven Herbert, said: "We are pleased to have been chosen by such a prestigious organisation and we look forward to partnering with Mothercare to achieve their objectives.”
In December, Mercer won the pension administration business for Six Continents' four former pension schemes.