Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, today announced that its Mercer business completed the merger of BT Super into the Mercer Super Trust, creating one of Australia’s most competitive super funds. Mercer today also announced completion of the acquisition of Advance Asset Management Limited, further expanding its capability as a leading investment multi-manager in Australia.
The Mercer Super Trust is now one of the 15 largest funds in Australia with approximately 850,000 members and $63Bn* total assets under management. Mercer is one of the world’s leading retirement advisors and investment managers with $345 billion of assets under management and $16.5 trillion of retirement assets under advisement.*
“Redefining retirement and preparing for the new economy of longer lives is a priority for Mercer and our clients,” said Martine Ferland, President and CEO, Mercer. “Today, we take a meaningful step in our journey to build brighter financial futures and are pleased to offer hundreds of thousands of Australians increased investment choices and enhanced member experiences.”
Members also will have access to additional benefits and support services including Care & Living with Mercer and complimentary limited financial advice as it relates to their superannuation, and many members of the merged Mercer Super Trust will benefit from meaningful fee reductions.
David Bryant, CEO Marsh McLennan Pacific and President Mercer Pacific, said the merger will transform the superannuation sector for the ultimate benefit of Australians.
“We promised members that we would deliver them a market-leading offering in terms of benefits, performance and pricing and, today, we’re delivering on that promise,” Mr. Bryant said.
“Leveraging our global scale and the insights of our team of approximately 2,000 investment professionals around the world, Mercer Super members will benefit from being part of one of the most competitive super funds in Australia, and this is only the beginning.”
*Based on assets under management and assets under advisement as of 31 December 2022; shown on a combined basis for BT Super and Mercer Super.
About Marsh McLennan
Marsh McLennan (NYSE: MMC) is the world’s leading professional services firm in the areas of risk, strategy and people. The Company’s more than 85,000 colleagues advise clients in 130 countries. With annual revenue of over $20 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses. Marsh provides data-driven risk advisory services and insurance solutions to commercial and consumer clients. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities. Mercer delivers advice and technology-driven solutions that help organizations redefine the world of work, reshape retirement and investment outcomes, and unlock health and wellbeing for a changing workforce. Oliver Wyman serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit marshmclennan.com and follow us on LinkedIn and Twitter.
Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s approximately 25,000 employees are based in 43 countries and the firm operates in 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 85,000 colleagues and annual revenue of over $20 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer and LinkedIn.