Mercer has signed a definitive agreement to merge its investment consulting business with Callan Associates, creating large investment consulting businesses in the United States.
Upon completion of the transaction, Mercer will have strengthened its US investment consulting business and its position in global investment consulting.
The transaction is expected to close near the end of the first quarter of 20091.Terms of the agreement were not disclosed.
While Mercers investment consulting business will be well positioned for future growth, providing top-tier service to clients remains first and foremost the objective of the merged business.
Combined business will continue to have a presence in those cities in conjunction with Mercers US investment consulting offices in New York, Atlanta, Boston, Washington, DC and other big cities.
The companies also share the philosophy that a successful consulting organization must be one that is entirely focused on meeting client needs and leaders at both firms recognize that the ongoing client experience will ultimately determine the success of Mercer investment consulting going forward.
Callans solid US presence complements our US investment consulting strength, along with our strong positions in Canada, Europe and Asia Pacific, says Michele Burns, chairman and chief executive officer, Mercer.
This transaction demonstrates Mercers commitment to invest in businesses that provide long-term strategic growth and in high-quality investment consulting services that benefit clients.
Combining forces with Mercer, a global leader, we can offer clients a wider range of tools and resources, top-notch professional advice and enhanced research, educational and quantitative services, says Ronald D. Peyton, chairman and chief executive officer, Callan Associates.
With approximately 1,100 investment consulting employees in 41 offices around the world, Mercer will have the resources to offer clients customized guidance at every stage of the investment decision, risk management and investment monitoring process, says Andrew Kirton, global head, investment consulting business, Mercer.
Our clients will have access to leading intellectual capital, deep and broad-based manager research, and the most committed and experienced consultants in the industry.
Both Callan and Mercer have similar business models, cultures and values, and share a commitment to excellence, says Jeff Schutes, investment consulting leader, Mercer, US. In the current challenging investment environment, we believe combining our resources will significantly improve our ability to help clients make informed, sound and strategic investment decisions.
We sincerely believe our clients will benefit from the experience, resources and global reach of the new organization and it is our priority that our consultants remain keenly focused on ensuring that each and every relationship continues to be serviced at the highest level, says Jim Callahan, executive vice president, Fund Sponsor Consulting, Callan Associates.
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