Marsh & McLennan Unit Acquires Vanguard's OCIO Business
06 December 2023 - 5:53AM
Dow Jones News
By Denny Jacob
Marsh & McLennan unit Mercer agreed to acquire Vanguard
Group's outsourced chief investment officer business.
Asset manager Vanguard's roughly 120-person team behind the
acquired unit is expected to transfer to Mercer as full-time
employees upon the close of the deal, which is expected to be in
the first quarter.
Other terms of the acquisition weren't disclosed.
Vanguard's outsourced chief investment officer business provides
investment management services for not-for-profit organizations and
other institutional investors in the U.S.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
December 05, 2023 13:38 ET (18:38 GMT)
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