- Mercer, a business of Marsh McLennan (MMC, Financial), completes the acquisition of SECOR Asset Management.
- The acquisition aims to expand Mercer's global investment capabilities and institutional client services.
- SECOR brings $21.5 billion in assets under management to Mercer, enhancing its strategic portfolio solutions.
Mercer, a division of Marsh McLennan (MMC), has finalized its acquisition of SECOR Asset Management, a move designed to bolster its investment service offerings for institutional clients worldwide. While the specific terms of the transaction remain undisclosed, the merger is expected to significantly expand Mercer's investment capabilities.
SECOR, known for its comprehensive portfolio solutions and asset liability management, serves institutional investors such as pension funds, insurance companies, and endowments. With this acquisition, Mercer aims to provide enhanced, bespoke investment solutions, leveraging SECOR's expertise and $21.5 billion in assets under management as of September 30, 2024.
Michael Dempsey, President of Wealth at Mercer, emphasized the strategic importance of the acquisition, noting that the integration of SECOR's capabilities will enable Mercer to offer more robust support to sophisticated investors seeking to navigate market complexities. SECOR's Managing Principal and Chief Investment Officer, Tony Kao, remarked on the enhanced agility and innovation this collaboration will bring to their mutual clients.
As part of this strategic integration, Mercer plans to establish a Global Investment Partnerships Group aimed at addressing the unique needs of large asset owners with tailored portfolio solutions. Over 40 SECOR employees in New York and London are expected to join Mercer's team as part of the acquisition.
Marsh McLennan (MMC, Financial) continues to be a global leader in risk, strategy, and people, reporting annual revenue exceeding $24 billion. This acquisition is another strategic step in helping clients achieve their investment and governance objectives amid an evolving financial landscape.
