Acquisition Strengthens Mercer’s Growth Opportunities
May 08 2016 - 9:59PM
Business Wire
Mercer purchases web-based ecompliance
solution as spotlight on governance intensifies
Mercer has strengthened its governance and compliance offering
and shifted the competitive landscape in the superannuation
governance market with the acquisition of the web-based ecompliance
and risk management solution, ExtraTextual.
The acquisition will increase simplicity for clients by making
Mercer their one-stop-governance-shop.
The governance of Australia’s $2 trillion superannuation
industry continues to be increasingly in the spotlight. Trustees
and fund executives are being forced to manage extra scrutiny from
members, media, activists, governments and regulators.
This acquisition will combine Mercer’s governance and industry
expertise with the technology that helps our clients stay abreast
of legislative changes, manage key areas of risk, and ensure
compliance with legislative requirements is monitored and reported
on in an efficient manner. The acquisition follows a long business
partnership between the two parties.
Graeme Mather, leader of Mercer’s Retirement and Investments
business, said, “This is a logical move for both parties, but
what’s exciting about this acquisition is how we can make our
clients’ lives easier by removing some of the governance burden of
monitoring legislative and regulatory changes and the impact these
can have on our clients operations.”
“In an industry where change is constant, the time and cost
associated with compliance is always increasing. The changing
legislative environment can expose funds and their members to
compliance, market and operational risks.
“Super funds and managed investment schemes want easier ways to
do business, but more importantly, they want the peace of mind that
comes from being able to access the breadth and depth of expertise
a global organisation like Mercer can bring to the table,” Mr.
Mather said.
“Our compliance solution provides the necessary and
comprehensive checklists with an overlay of legislative content
that allows our clients to focus on value add areas, rather than
interpreting complex legislative change, this is unique in the
market place,” he said.
All of the legislative frameworks and ongoing
changes associated with the governance of a fund or a managed
investment scheme are analysed and maintained within the system by
Mercer’s legal and governance team. These tasks are assigned to
individuals and progress and compliance status of each task can be
monitored and reported on. When changes are made to legislation,
Mercer updates the system and alerts clients to new or expanded
requirements.
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 more than 40 countries and the firm operates in over 130
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 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.au Follow Mercer on Twitter @MercerAu.
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version on businesswire.com: http://www.businesswire.com/news/home/20160508005039/en/
MercerLibby Woolnough,
+61-3-9623-5361libby.woolnough@mercer.com
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