Mercer has created a new role of Global Chief Investment Officer, Mainstream Assets and appointed Russell Clarke, Mercers current Asia Pacific CIO, to the new position.
Clarke will be responsible for worldwide investment management decisions concerning all traditional asset classes including equities, property, fixed interest and multi-asset portfolios. Regional CIOs will now report to Clarke. Clarke will report to Mercers London-based Global CIO, Andrew Kirton.
Meanwhile, Andrew Howard has been promoted to Asia Pacific CIO.
The new role is a logical extension of Mercers internal reorganisation of alternatives research and portfolio management activities along global lines, Kirton said.
Our business is growing rapidly – both in terms of assets under management and the range of investment strategies were bringing to market in response to client needs, Kirton said. As we evolve our portfolio management activities to an increasingly global footing and integrate it more closely with the underlying strategic and manager research that underpins it, the need for a pivotal leadership role in managing the challenges of the growing scale and complexity has become apparent.
In the reorganisation earlier this year, Mercer formed an Alternatives Investment Committee, chaired by CIO, Alternative Assets, Bill Muysken. Muyskens role was expanded to take in both beta and alpha strategies, Kirton said.
Some of the changes introduced in respect of alternatives will also be applicable to mainstream assets and part of Russell Clarke’s role will be to work closely with Bill exploring the scope of potential crossovers, he said.