Mercer’s on the move
Peter Promnitz
Mercer is set to leverage its international resources to expand its outsourcing business throughout Asia Pacific, to offer one access point for retirement, healthcare and flexible benefits administration to clients in several markets.
The move will bring its Australian, New Zealand and Asian business under one umbrella, led by Mercer outsourcing business leader Asia Pacific David Anderson.
Commenting on the announcement, Mercer region head for Asia Pacific Peter Promnitz said outsourcing is the firm’s largest line of business in Asia Pacific and the company anticipates plenty of growth opportunities in both new and existing markets.
“We have a world leading retirement outsourcing business in Australia. Now, our Asian operation will be able to utilise the same systems and business processes — as Asian clients increasingly turn towards retirement benefits to differentiate themselves in the current competitive talent environment,” Promnitz said.
Recommended for you
Financial advisers are reminded to ensure their CPD is up to date with the Financial Services and Credit Panel making its second determination in a week after an adviser failed to meet the requirements.
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
While efficiency remains a top priority for Australian advisers, State Street has revealed the profession is now juggling this desire with the need to maintain personalisation of its service offering.
A possible acquisition of data provider Iress is becoming a greater likelihood after the firm announced it is engaging with multiple interested parties.
