Mercer has entered into a strategic
alliance with Transamerica whereby Transamerica will acquire
Mercer’s US defined contribution (DC) administration book of business.
Transamerica will also become Mercer’s preferred DC record keeping
provider. The transaction is expected to close by the end of 2015.
“We are excited about this alliance with Transamerica as both firms
share a deep passion for service excellence and value delivery,” said
Ken Haderer, Mercer’s Chief Operating Officer. "After the transaction is
complete later this year, we will partner with Transamerica for our
defined contribution recordkeeping administration business. We also want
to clearly state that we are committed to continuing to provide best of
class service to our defined benefit and health clients through our own
solutions."
“We are looking forward to continuing Mercer’s tradition of delivering
excellent customer service to the defined contribution clients who will
transition to Transamerica and expand our large market presence as part
of this transaction,” said Kent G. Callahan, President and Chief
Executive Officer of the Investments & Retirement division of
Transamerica. “At the same time, they’ll gain the advantage of our
enhanced retirement planning and reporting capabilities, mobile account
management and retirement counseling services. We are thrilled to bring
these two great teams and our collective capabilities and talents
together to further benefit our clients.”
Mercer’s US DC retirement administration business has more than US$71
billion in plan assets, 148 clients and more than 917,000 participants.
About Mercer
Mercer is a global consulting leader in talent, health, retirement and
investments. Mercer helps clients around the world advance the health,
wealth and performance of their most vital asset – their people.
Mercer’s more than 20,000 employees are based in 43 countries and the
firm operates in over 140 countries. Mercer is a wholly owned subsidiary
of Marsh
& McLennan Companies (NYSE: MMC), a global professional services
firm offering clients advice and solutions in the areas of risk,
strategy and people. With 57,000 employees worldwide and annual revenue
exceeding $13 billion, Marsh & McLennan Companies is also the parent
company of Marsh,
a global leader in insurance broking and risk management; Guy
Carpenter, a leader in providing risk and reinsurance intermediary
services; and Oliver
Wyman, a leader in management consulting. For more information,
visit www.mercer.com.
Follow Mercer on Twitter @Mercer.
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