Mercer enters strategic alliance with Transamerica for defined contribution recordkeeping services
September 25 2015 - 2:51AM
Business Wire
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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version on businesswire.com: http://www.businesswire.com/news/home/20150924006600/en/
MercerJulie Winskie,
212-345-9183julie.winskie@mercer.com
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