Mercer Acquires Pillar Administration
02 December 2016 - 10:55AM
Business Wire
Global consulting leader Mercer, a wholly owned subsidiary of
Marsh & McLennan Companies, has acquired Pillar Administration
(Pillar), establishing itself as one of the largest outsourced
superannuation providers in Australia.
Pillar is one of Australia’s leading superannuation
administration providers with more than $100 billion in funds under
administration across 1.1 million member accounts. In May this
year, the New South Wales government passed legislation paving the
way for Pillar to be privatised in order to secure the
administrator’s long-term future.
The decision to appoint Mercer follows an extensive competitive
process, resulting in the creation of an outsourcing provider
offering competitive, differentiated and high quality
administration and related services to the public sector, industry
and corporate superannuation funds.
Martine Ferland, Mercer’s EuroPac President, said Mercer had
presented a compelling bid that reaffirms Mercer’s global
commitment to growing our superannuation outsourcing business in
Australia. “It’s an area we are investing in because we are
committed to continuing to deliver excellent service and
innovation, at scale, to our clients right across the
superannuation service chain. We also want to provide our people
with new opportunities and a great place to work.”
Ben Walsh, Mercer’s Managing Director & Pacific Market
Leader, agreed by saying “the acquisition is on point for our
strategy. We will add further value to our clients and to members
through the investments we are making in our business and through
strategic partnerships, alliances and acquisitions such as this
one.”
“Specifically, we know many super funds are seeking a proactive
and sustainable business partner who can provide superior
administration and related services, reduce costs and help funds
get closer to members. For this reason we have invested heavily in
our people capability, process innovation and technologies to
ensure we are ready for these opportunities. This deal provides
Mercer with the capability and scale to enhance our clients’
relationships with their members."
Mr Walsh expressed the high regard in which he held Pillar’s
people, values and client base as well as their experience in
administering large, complex superannuation funds and strong
position within the Illawarra region, he said.
As well as being a super fund administrator, Mercer is one of
Australia’s largest actuarial and investment consulting companies
and operates the $20 billion Mercer Super Trust, offering Pillar’s
people opportunities for professional growth and development and
its customers Mercer’s world-leading financial wellness tools.
Mercer and its leadership team have a strong track record of
successful acquisitions including Cullen Egan Dell, Sedgwick and
Mellon, with a commitment to focusing on people and culture during
and post the acquisition process.
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 careers 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
annual revenue of $13 billion and 60,000 colleagues worldwide,
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. Follow Mercer on Twitter
@Mercer.
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version on businesswire.com: http://www.businesswire.com/news/home/20161201006559/en/
Lahra Carey Media and Communications for MercerLisa Kelaart, 61
3 9685 3198 / 61 433 150 351lisa@lahracarey.com.au
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