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Mercer adds new wealth Pacific CEO role to support growth strategy
Mercer has appointed industry veteran Cathy Hales as chief executive of its wealth Pacific division, a newly created role that will see her lead the investment consulting firm’s wealth portfolio in Australia and New Zealand, including the $63 billion Mercer Super Trust.
Hales – whose 30-year career in financial services includes roles with early-stage and established multinational businesses in Australia, the US and Europe – will also have leadership over Mercer’s multi-manager and investment solutions business, as well as its superannuation services arm, the company said Monday in a statement announcing the appointment.
Hales’ prior experience includes time leading Challenger’s Fidante Partners to become one of Australia’s largest multi-affiliate investor platforms, and she previously served as managing director and global chief operating officer of client relations and marketing at RREEF, Deutsche Bank’s global alternative asset management unit.
“I was drawn to Mercer as I believe the firm is ideally positioned to support clients throughout their entire investment journey – whether that’s managing corporate or institutional investment goals, growing a super balance or planning for retirement,” Hales tells Investor Strategy News.
“I’m looking forward to collaborating with our teams to further grow and develop the wealth portfolio, while also harnessing the new opportunities that have arisen from Mercer’s increased scale in superannuation and investment segments. Together, I’m confident we can continue to make an important contribution to our clients and the industry more broadly.”
Mercer – which is part of the Marsh McLennan group – created the CEO role for its investments and retirement portfolio in Australia and New Zealand, which consists of the Mercer Super Trust, the firm’s multi-manager and investment solutions business, and its superannuation services arm, which provides advice and administration services.
The addition of Hales will support Mercer’s growth strategy across investments and retirement in the Pacific region, which has seen it complete the merger of BT Super into the Mercer Super Trust, acquire Advance Asset Management and transition Macquarie Asset Management New Zealand’s retail and wholesale funds. The company has also announced an agreement to transition BT’s Private Portfolio Management business.
“Helping our clients reshape investment and retirement outcomes is the core of what we do at Mercer, and we have made significant inroads in expanding our capability in this space over the last two years,” said David Bryant, CEO of Marsh McLennan Pacific and president of Mercer Pacific. “Cathy has the vision and experience needed to advise our clients in an ever-changing market and drive Mercer’s strong investments and retirement growth agenda in the Pacific region.”
Hales, who is based in Sydney, started her role at Mercer on Monday.
