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Mercer (consulting firm)

January 01, 1970

Mercer is an American consulting firm founded in 1945. It is one of the four operating subsidiaries of global professional services firm Marsh McLennan (NYSE: MMC). Mercer is headquartered in New York City with offices in 43 countries and operations in 130 countries.[1] The company primarily provides human resources and financial services consulting services to its clients.

Mercer
Company typeSubsidiary
IndustryConsulting
Founded1945
Headquarters
New York City
Number of locations
180 cities in 43 countries
Key people
Martine Ferland (President and CEO)
ProductsAsset management, including retirement, health & benefits, human capital, surveys & products, communication, investments, outsourcing, and mergers & acquisitions
Revenue5,021,000,000 United States dollar (2019) 
Number of employees
25,000 (2019) 
ParentMarsh McLennan

Mercer has several distinct lines of business, namely: health and benefits, investments and retirement, workforce and careers, and M&A advisory services. It is the world's largest[peacock prose] investment advisory with over US$300 billion outsourced assets under management and US$15 trillion under advisement in total.[2][3][4][5]

History edit

Foundation and early years (1937–1959) edit

William Manson Mercer founded William M. Mercer, Limited in Vancouver, Canada in 1945. It was acquired by Marsh McLennan and merged into their employee benefits department in 1959.[6][7]

Post acquisition growth (1959–2002) edit

Mercer Consulting Group

In 1975, Marsh McLennan converted their benefits operations into a wholly owned subsidiary, William M. Mercer, Inc. In 1992, a holding company was created for Marsh McLennan's three global consulting businesses, known as Mercer Consulting Group.[8] William M. Mercer, Inc. continued to provide actuarial and employee benefits consulting within the group alongside two sister companies: Mercer Management Consulting and National Economic Research Associates, Inc, which provided corporate strategy consulting and economic consulting, respectively.[9]

Mercer Delta Consulting edit

In 2000, Mercer Consulting Group acquired Delta Consulting Group for its organizational development and change management expertise.[10] Founded by organizational theorist David A. Nadler in 1980, Delta Consulting Group worked to structure effective executive teams.[11][12] The firm had an influential client list, including corporations such as 3M, Citicorp, Procter & Gamble, The New York Times, and Xerox.[13][14]

The new entity was renamed Mercer Delta Consulting, and maintained its specialty in leadership and organizational change.[15][16] The group grew through further acquisitions of Canadian Johnston Smith International, French Change Management Consultants, Spanish c.r.m. Concord, and American CDR International.[17] They surveyed directors of the Fortune 1000 annually and monitored developments in business governance.[18] In contrast to the traditional organizational structure where business units within an organization are clearly defined, Mercer Delta was a proponent of strategically aligned business units that were linked to a larger organization with which they could share capabilities when needed, and operate separately from when they were not.[19]

Mercer Human Resource Consulting (2002–2007) edit

In 2002, William M. Mercer Inc. changed its name to Mercer Human Resource Consulting.[20]

In 2004, Marsh McLennan folded its troubled Putnam Investments defined contribution business into its Mercer line and acquired Houston, Texas-based Synhrgy HR Technologies, a human resources technology and outsourcing services company.[1] Also in 2004, Mercer admitted giving the NYSE board a compensation report that contained "omissions and inaccuracies" that led to a $139.5 million pay package for former NYSE Chairman Richard Grasso. Mercer had been brought in to advise the stock exchange on Grasso's 2003 contract and his request for $139.5 million. The consultancy returned $440,000 in fees it collected from the NYSE and provided key documents in the lawsuit.[21]

In 2005, Marsh McLennan split Mercer Human Resources Consulting from Mercer Consulting Group. The five consultancies which remained in the group were renamed Mercer Specialty Consulting.[22]

Mercer (2007–present) edit

In 2007, three of the five speciality consulting units – Mercer Delta Consulting, Mercer Oliver Wyman and Mercer Management Consulting – were merged into management consultancy Oliver Wyman.[23] Oliver Wyman, along with the two remaining speciality units (NERA Economic Consulting and Lippincott) became a separate subsidiary of Marsh McLennan known collectively as Oliver Wyman Group.[24]

In September, the Mercer Human Resource Consulting became simply "Mercer".[25] In December, Mercer acquired Höfer Vorsorge-Management, a German actuarial and retirement consulting firm. At the time, the acquisition reportedly gave Mercer the top market position in Germany.[26]

In 2008, Mercer's Italian human capital consulting business merged with Tesi, an Italian competitor. The combined business, Mercer Tesi was noted at the time to be the largest HR consultancy in Italy.[27]

In 2010, Mercer acquired ORC Worldwide, an expert in international work assignments.[28] Also in 2010, Mercer acquired Brecksville, Ohio-based Innovative Process Administration LLC (IPA), a health benefits and technology provider.

In 2011, Mercer acquired Fort Lauderdale, Florida-based Mahoney & Associates, a defined contribution plan provider.[29] Also in 2011, Mercer acquired Alicia Smith & Associates, a Washington DC-based Medicaid policy consulting firm.[30]

In 2013, Mercer acquired British Columbia-based Hall Consulting Limited (HCL), an HR consultant and salary surveyor focusing on the mining and energy business.[31] Also in 2013, Mercer acquired PricewaterhouseCoopers' pension windup (termination) administration business in Canada,[32] and Global Remuneration Solutions (GRS), a South African compensation and benefits survey data and rewards information provider.[33]

In 2014, Mercer acquired Norwell, Massachusetts-based Transition Assist, a private health care exchange specializing in coverage for Medicare-eligible retirees.[34] Also in 2014, Mercer acquired Jeitosa Group International, a business and technology consultancy,[35] and a 34% stake in South Africa-based employee benefits specialist Alexander Forbes.[36] Later that year, Mercer acquired Swiss private markets manager and consultant SCM,[37] and Denarius, a Santiago, Chile-based consulting firm focused on compensation and benefits survey and information products.[38]

In 2015, Mercer made two acquisitions. It acquired Hopkinton, Massachusetts-based Comptryx, a workforce metrics company offering surveying, modeling and analytics services,[39] and also acquired HRBS, a provider of career and talent consulting and information services to clients across Asia, particularly Hong Kong, Singapore and mainland China.[40] In that same year, Mercer sold its US defined contribution administration business to Transamerica.[41]

In 2016, Mercer acquired Pillar Administration, Australia from the New South Wales State Government. Pillar was Australia's fourth largest superannuation administration provider, with more than $100 billion in funds under administration across 1.1 million member accounts.[42]

In 2017, Mercer combined its investment and retirement consulting practices into a new Wealth consulting division.[43] In December 2019, Mercer's investment assets under management reached above $300 billion.[44]

After Marsh McLennan's 2018 purchase of London-based Jardine Lloyd Thompson (JLT), operating in employee benefits and other financial services, the JLT business was integrated into Mercer.[45][46]

References edit

  1. ^ a b "About". Mercer. Retrieved December 19, 2022.
  2. ^ "Mercer Global Assets Under Management Reaches OCIO Industry Milestone by Passing $300 billion USD". Nasdaq. December 17, 2019. Retrieved February 3, 2020.
  3. ^ . Edgar Online. February 21, 2019. Archived from the original on February 29, 2020. Retrieved February 21, 2019.
  4. ^ . Mercer News Room. March 18, 2019. Archived from the original on March 21, 2019. Retrieved March 18, 2019.
  5. ^ "2019 Outsourced-Chief Investment Officer Survey". AI-CIO. Retrieved February 25, 2019.
  6. ^ "Acing the Mercer Interview – An Overview of the Firm". managementconsulted.com. April 8, 2013. Retrieved November 6, 2015.
  7. ^ "America's Top Management Consulting Companies". The HR Digest. May 5, 2020. Retrieved August 21, 2020.
  8. ^ "Company Profile: Mercer". Actuary Jobs.
  9. ^ "Marsh & McLennan Companies, Inc. History". Funding Universe.
  10. ^ Woolsey, Christine (March 25, 2000). "Mercer Consulting Group Plans Acquisition of Delta Consulting". HR Hub. Retrieved December 28, 2017.
  11. ^ Nadler, David A. (January 1, 1996). "Managing the Team at the Top". strategy+business.
  12. ^ America, North (June 8, 1999). "Building Leadership Through Teamwork". Knowledge@Wharton.
  13. ^ Nadler, David (April 23, 1989). "Business Forum: Making Corporations Smarter; Failures Can Be Productive". The New York Times. ISSN 0362-4331. from the original on January 22, 2022.
  14. ^ Pearlstein, Steven (June 29, 1998). "REINVENTING XEROX CORP". Washington Post. ISSN 0190-8286.
  15. ^ Schneyer, Fred (January 26, 2005). "Storms to Run Mercer HR Consulting in MMC Reorg". PLANSPONSOR.
  16. ^ Woolsey, Christine (March 24, 2000). "Mercer Consulting Group Plans Acquisition of Delta Consulting". HR Hub.
  17. ^ "A HISTORY OF FORWARD THINKING". Oliver Wyman.
  18. ^ "Directors Exert More Influence in Boardroom". University of Southern California News. April 4, 2005.
  19. ^ "Partners in wealth". The Economist. ISSN 0013-0613.
  20. ^ "Mercer to adopt new name". Business Insurance. April 5, 2002. Retrieved August 21, 2020.
  21. ^ . hr.blr.com. May 26, 2004. Archived from the original on July 22, 2012. Retrieved November 6, 2015.
  22. ^ "MMC Announces Organizational Changes at Mercer". Marsh & McLennan Investor News.
  23. ^ "Mercer units combine to form new consultancy". Business Insurance. May 9, 2007. Retrieved August 24, 2020.(subscription required)
  24. ^ "Marsh & McLennan Companies Annual Report".
  25. ^ "Mercer HR Consulting rebrands as Mercer". professionalpensions.com. September 12, 2007. Retrieved November 6, 2015.
  26. ^ "Mercer acquires Höfer Vorsorge-Management in Germany". news.top-consultant.com. December 19, 2007. Retrieved November 6, 2015.
  27. ^ "Mercer & Tesi deal creates Italian market leader". growthbusiness.co.uk. October 16, 2008. Retrieved November 6, 2015.
  28. ^ "Mercer acquires ORC Worldwide to strengthen its capabilities in global workforce management". hrmagazine.co.uk. June 24, 2010. Retrieved November 6, 2015.
  29. ^ "Mercer buys Mahoney & Associates' practices". southfloridabusinessjournal.com. July 20, 2011. Retrieved November 6, 2015.
  30. ^ "Mercer acquires Alicia Smith & Associates in D.C." Washington Business Journal. November 16, 2011. Retrieved November 6, 2015.
  31. ^ "Mercer acquires Hall Consulting". growthbusiness.co.uk. October 16, 2008. Retrieved November 6, 2015.
  32. ^ "Mercer to buy PwC's Canadian pension windup business". businessinsurance.com. August 8, 2013. Retrieved November 6, 2015.
  33. ^ "Mercer in deal for Global Remuneration Solutions". mindbench.com. September 3, 2013. Retrieved November 6, 2015.
  34. ^ "Mercer expands health care exchange offerings with acquisition". businessinsurance.com. March 3, 2014. Retrieved November 6, 2015.
  35. ^ . workforce.com. October 27, 2014. Archived from the original on March 4, 2016. Retrieved November 6, 2015.
  36. ^ "Mercer to buy Alexander Forbes stake". bdlive.co.za. June 24, 2014. Retrieved November 7, 2015.
  37. ^ "Mercer acquires Swiss private markets manager/consultant". Pensions & Investments Online. June 24, 2014. Retrieved November 7, 2015.
  38. ^ "Marsh & McLennan Unit Mercer Buys Denarius". rttnews.com. December 15, 2014. Retrieved November 7, 2015.
  39. ^ "Mercer acquires Comptryx, specialist in HR metrics".
  40. ^ "Marsh & McLennan Arm to Offer Career Consulting in Asia".
  41. ^ "Transamerica to buy Mercer's defined contribution administration business". Business Insurance. Retrieved July 7, 2020.
  42. ^ "Mercer acquires Pillar Administration". Investment Magazine. December 2, 2016. Retrieved May 2, 2019.
  43. ^ Comtois, James (March 20, 2017). "Mercer combines units to meet clients' shifting need". Pensions & Investments. Retrieved December 19, 2017.
  44. ^ "Mercer Global Assets Under Management Reaches OCIO Industry Milestone by Passing $300 billion USD". www.mercer.com. Retrieved July 7, 2020.
  45. ^ Burton, Lucy (September 18, 2018). "Bumper payouts and job cuts on the cards as US giant Marsh snaps up JLT for £4.9bn". The Telegraph. ISSN 0307-1235. Retrieved January 26, 2020.
  46. ^ "Marsh & McLennan Welcomes Jardine Lloyd Thompson". Mercer. Retrieved January 26, 2020.

External links edit

  • Official website  

January 01, 1970
mercer, consulting, firm, mercer, american, consulting, firm, founded, 1945, four, operating, subsidiaries, global, professional, services, firm, marsh, mclennan, nyse, mercer, headquartered, york, city, with, offices, countries, operations, countries, company. Mercer is an American consulting firm founded in 1945 It is one of the four operating subsidiaries of global professional services firm Marsh McLennan NYSE MMC Mercer is headquartered in New York City with offices in 43 countries and operations in 130 countries 1 The company primarily provides human resources and financial services consulting services to its clients MercerCompany typeSubsidiaryIndustryConsultingFounded1945HeadquartersNew York CityNumber of locations180 cities in 43 countriesKey peopleMartine Ferland President and CEO ProductsAsset management including retirement health amp benefits human capital surveys amp products communication investments outsourcing and mergers amp acquisitionsRevenue5 021 000 000 United States dollar 2019 Number of employees25 000 2019 ParentMarsh McLennan Mercer has several distinct lines of business namely health and benefits investments and retirement workforce and careers and M amp A advisory services It is the world s largest peacock prose investment advisory with over US 300 billion outsourced assets under management and US 15 trillion under advisement in total 2 3 4 5 Contents 1 History 1 1 Foundation and early years 1937 1959 1 2 Post acquisition growth 1959 2002 1 2 1 Mercer Delta Consulting 1 3 Mercer Human Resource Consulting 2002 2007 1 4 Mercer 2007 present 2 References 3 External linksHistory editFoundation and early years 1937 1959 edit William Manson Mercer founded William M Mercer Limited in Vancouver Canada in 1945 It was acquired by Marsh McLennan and merged into their employee benefits department in 1959 6 7 Post acquisition growth 1959 2002 edit Mercer Consulting GroupIn 1975 Marsh McLennan converted their benefits operations into a wholly owned subsidiary William M Mercer Inc In 1992 a holding company was created for Marsh McLennan s three global consulting businesses known as Mercer Consulting Group 8 William M Mercer Inc continued to provide actuarial and employee benefits consulting within the group alongside two sister companies Mercer Management Consulting and National Economic Research Associates Inc which provided corporate strategy consulting and economic consulting respectively 9 Mercer Delta Consulting edit In 2000 Mercer Consulting Group acquired Delta Consulting Group for its organizational development and change management expertise 10 Founded by organizational theorist David A Nadler in 1980 Delta Consulting Group worked to structure effective executive teams 11 12 The firm had an influential client list including corporations such as 3M Citicorp Procter amp Gamble The New York Times and Xerox 13 14 The new entity was renamed Mercer Delta Consulting and maintained its specialty in leadership and organizational change 15 16 The group grew through further acquisitions of Canadian Johnston Smith International French Change Management Consultants Spanish c r m Concord and American CDR International 17 They surveyed directors of the Fortune 1000 annually and monitored developments in business governance 18 In contrast to the traditional organizational structure where business units within an organization are clearly defined Mercer Delta was a proponent of strategically aligned business units that were linked to a larger organization with which they could share capabilities when needed and operate separately from when they were not 19 Mercer Human Resource Consulting 2002 2007 edit In 2002 William M Mercer Inc changed its name to Mercer Human Resource Consulting 20 In 2004 Marsh McLennan folded its troubled Putnam Investments defined contribution business into its Mercer line and acquired Houston Texas based Synhrgy HR Technologies a human resources technology and outsourcing services company 1 Also in 2004 Mercer admitted giving the NYSE board a compensation report that contained omissions and inaccuracies that led to a 139 5 million pay package for former NYSE Chairman Richard Grasso Mercer had been brought in to advise the stock exchange on Grasso s 2003 contract and his request for 139 5 million The consultancy returned 440 000 in fees it collected from the NYSE and provided key documents in the lawsuit 21 In 2005 Marsh McLennan split Mercer Human Resources Consulting from Mercer Consulting Group The five consultancies which remained in the group were renamed Mercer Specialty Consulting 22 Mercer 2007 present edit In 2007 three of the five speciality consulting units Mercer Delta Consulting Mercer Oliver Wyman and Mercer Management Consulting were merged into management consultancy Oliver Wyman 23 Oliver Wyman along with the two remaining speciality units NERA Economic Consulting and Lippincott became a separate subsidiary of Marsh McLennan known collectively as Oliver Wyman Group 24 In September the Mercer Human Resource Consulting became simply Mercer 25 In December Mercer acquired Hofer Vorsorge Management a German actuarial and retirement consulting firm At the time the acquisition reportedly gave Mercer the top market position in Germany 26 In 2008 Mercer s Italian human capital consulting business merged with Tesi an Italian competitor The combined business Mercer Tesi was noted at the time to be the largest HR consultancy in Italy 27 In 2010 Mercer acquired ORC Worldwide an expert in international work assignments 28 Also in 2010 Mercer acquired Brecksville Ohio based Innovative Process Administration LLC IPA a health benefits and technology provider In 2011 Mercer acquired Fort Lauderdale Florida based Mahoney amp Associates a defined contribution plan provider 29 Also in 2011 Mercer acquired Alicia Smith amp Associates a Washington DC based Medicaid policy consulting firm 30 In 2013 Mercer acquired British Columbia based Hall Consulting Limited HCL an HR consultant and salary surveyor focusing on the mining and energy business 31 Also in 2013 Mercer acquired PricewaterhouseCoopers pension windup termination administration business in Canada 32 and Global Remuneration Solutions GRS a South African compensation and benefits survey data and rewards information provider 33 In 2014 Mercer acquired Norwell Massachusetts based Transition Assist a private health care exchange specializing in coverage for Medicare eligible retirees 34 Also in 2014 Mercer acquired Jeitosa Group International a business and technology consultancy 35 and a 34 stake in South Africa based employee benefits specialist Alexander Forbes 36 Later that year Mercer acquired Swiss private markets manager and consultant SCM 37 and Denarius a Santiago Chile based consulting firm focused on compensation and benefits survey and information products 38 In 2015 Mercer made two acquisitions It acquired Hopkinton Massachusetts based Comptryx a workforce metrics company offering surveying modeling and analytics services 39 and also acquired HRBS a provider of career and talent consulting and information services to clients across Asia particularly Hong Kong Singapore and mainland China 40 In that same year Mercer sold its US defined contribution administration business to Transamerica 41 In 2016 Mercer acquired Pillar Administration Australia from the New South Wales State Government Pillar was Australia s fourth largest superannuation administration provider with more than 100 billion in funds under administration across 1 1 million member accounts 42 In 2017 Mercer combined its investment and retirement consulting practices into a new Wealth consulting division 43 In December 2019 Mercer s investment assets under management reached above 300 billion 44 After Marsh McLennan s 2018 purchase of London based Jardine Lloyd Thompson JLT operating in employee benefits and other financial services the JLT business was integrated into Mercer 45 46 References edit a b About Mercer Retrieved December 19 2022 Mercer Global Assets Under Management Reaches OCIO Industry Milestone by Passing 300 billion USD Nasdaq December 17 2019 Retrieved February 3 2020 Marsh amp Mclennan Companie MMC 10 K Edgar Online February 21 2019 Archived from the original on February 29 2020 Retrieved February 21 2019 Mercer Ranked First in OCIO Assets Globally by Ai CIO Magazine Mercer News Room March 18 2019 Archived from the original on March 21 2019 Retrieved March 18 2019 2019 Outsourced Chief Investment Officer Survey AI CIO Retrieved February 25 2019 Acing the Mercer Interview An Overview of the Firm managementconsulted com April 8 2013 Retrieved November 6 2015 America s Top Management Consulting Companies The HR Digest May 5 2020 Retrieved August 21 2020 Company Profile Mercer Actuary Jobs Marsh amp McLennan Companies Inc History Funding Universe Woolsey Christine March 25 2000 Mercer Consulting Group Plans Acquisition of Delta Consulting HR Hub Retrieved December 28 2017 Nadler David A January 1 1996 Managing the Team at the Top strategy business America North June 8 1999 Building Leadership Through Teamwork Knowledge Wharton Nadler David April 23 1989 Business Forum Making Corporations Smarter Failures Can Be Productive The New York Times ISSN 0362 4331 Archived from the original on January 22 2022 Pearlstein Steven June 29 1998 REINVENTING XEROX CORP Washington Post ISSN 0190 8286 Schneyer Fred January 26 2005 Storms to Run Mercer HR Consulting in MMC Reorg PLANSPONSOR Woolsey Christine March 24 2000 Mercer Consulting Group Plans Acquisition of Delta Consulting HR Hub A HISTORY OF FORWARD THINKING Oliver Wyman Directors Exert More Influence in Boardroom University of Southern California News April 4 2005 Partners in wealth The Economist ISSN 0013 0613 Mercer to adopt new name Business Insurance April 5 2002 Retrieved August 21 2020 HR Figures Prominently in Stock Exchange Scandal hr blr com May 26 2004 Archived from the original on July 22 2012 Retrieved November 6 2015 MMC Announces Organizational Changes at Mercer Marsh amp McLennan Investor News Mercer units combine to form new consultancy Business Insurance May 9 2007 Retrieved August 24 2020 subscription required Marsh amp McLennan Companies Annual Report Mercer HR Consulting rebrands as Mercer professionalpensions com September 12 2007 Retrieved November 6 2015 Mercer acquires Hofer Vorsorge Management in Germany news top consultant com December 19 2007 Retrieved November 6 2015 Mercer amp Tesi deal creates Italian market leader growthbusiness co uk October 16 2008 Retrieved November 6 2015 Mercer acquires ORC Worldwide to strengthen its capabilities in global workforce management hrmagazine co uk June 24 2010 Retrieved November 6 2015 Mercer buys Mahoney amp Associates practices southfloridabusinessjournal com July 20 2011 Retrieved November 6 2015 Mercer acquires Alicia Smith amp Associates in D C Washington Business Journal November 16 2011 Retrieved November 6 2015 Mercer acquires Hall Consulting growthbusiness co uk October 16 2008 Retrieved November 6 2015 Mercer to buy PwC s Canadian pension windup business businessinsurance com August 8 2013 Retrieved November 6 2015 Mercer in deal for Global Remuneration Solutions mindbench com September 3 2013 Retrieved November 6 2015 Mercer expands health care exchange offerings with acquisition businessinsurance com March 3 2014 Retrieved November 6 2015 Mercer Acquires Jeitosa Group International workforce com October 27 2014 Archived from the original on March 4 2016 Retrieved November 6 2015 Mercer to buy Alexander Forbes stake bdlive co za June 24 2014 Retrieved November 7 2015 Mercer acquires Swiss private markets manager consultant Pensions amp Investments Online June 24 2014 Retrieved November 7 2015 Marsh amp McLennan Unit Mercer Buys Denarius rttnews com December 15 2014 Retrieved November 7 2015 Mercer acquires Comptryx specialist in HR metrics Marsh amp McLennan Arm to Offer Career Consulting in Asia Transamerica to buy Mercer s defined contribution administration business Business Insurance Retrieved July 7 2020 Mercer acquires Pillar Administration Investment Magazine December 2 2016 Retrieved May 2 2019 Comtois James March 20 2017 Mercer combines units to meet clients shifting need Pensions amp Investments Retrieved December 19 2017 Mercer Global Assets Under Management Reaches OCIO Industry Milestone by Passing 300 billion USD www mercer com Retrieved July 7 2020 Burton Lucy September 18 2018 Bumper payouts and job cuts on the cards as US giant Marsh snaps up JLT for 4 9bn The Telegraph ISSN 0307 1235 Retrieved January 26 2020 Marsh amp McLennan Welcomes Jardine Lloyd Thompson Mercer Retrieved January 26 2020 External links editOfficial website nbsp Retrieved from https en wikipedia org w index php title Mercer consulting firm amp oldid 1219100207, wikipedia, wiki, book, books, library,

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