UK – Consulting firm Mercer has taken on 170 staff from sister firm Marsh with the combination of the two firms’ benefits advisory and solutions businesses.
Mercer has absorbed Marsh’s insured pensions, healthcare and risks businesses together with its employee communications and executive financial advisory services, a statement said.
“Over 170 staff have transferred, expanding the number of Mercer’s UK locations from 15 to 19,” it added. Mercer now operates from 30 offices and has some 3,000 employees across the UK.
Both firms are part of US-based parent Marsh McLennan, which is emerging from an insurance bid-rigging scandal at Marsh. A spokeswoman said she believed the integration would take place globally.
“We’re now able to offer a fully comprehensive pension service to companies of all sizes - including not only advice on trust-based schemes but transactional services for insured pension arrangements,” said Mercer’s UK operating chief Mike Tyler.
“These include group personal pensions and occupational money purchase schemes – a growing market in the UK, and indeed, globally.”
Mercer has also launched an expanded “wealth solutions” service for executives in advance of changes to pension taxation for higher earners.