Mercer ousts Towers Perrin to become GSO actuary
Zilla Efrat
Mercer has been appointed as the actuary of the $6 billion Government Superannuation Office (GSO), replacing Towers Perrin which had been the incumbent actuary for the past 12 years.
GSO CEO Peter Blight says the appointment follows a public tender, which Mercer won because of its ability to deliver actuarial services to GSO and because of the costs it charges for these services.
As part of the contract, Mercer’s Carl Stevenson becomes the official actuary of GSO, which has around 142,000 members.
The appointment, Blight adds, in no way passes judgement on Towers Perrin. “We were happy with its service,” he says.
Mercer takes over the actuarial reins of GSO on June 1, 2003.
AUTHOR
Mike Taylor
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
