NEW YORK--(BUSINESS WIRE)--Mercer, a global consulting leader in advancing health, wealth and career, announced that it completed its acquisition of the investment consulting, alternatives consulting and wealth management operations of Pavilion Financial Corporation (“Pavilion”) effective November 30, 2018.
“Pavilion’s strength in the healthcare, insurance and endowment and foundation segments, coupled with Mercer’s global intellectual capital, will support the delivery of customized, holistic solutions to our clients. We look forward to integrating Pavilion’s not-for-profit consulting capabilities and its specialized alternatives advisory platform with our current client offerings,” said Rich Nuzum, President of Mercer’s global wealth business. “Our priority and focus through the integration will continue to be on helping clients achieve their goals.”
Daniel Friedman, the President and CEO of Pavilion Financial Corporation said, “In Mercer, we have found the right partner to accelerate our clients’ access to tools, research and investment programs. The Pavilion name will represent Mercer’s U.S. not-for-profit and insurance offerings. Our alternatives platform will feature the customized consulting offering of a full-spectrum alternatives boutique, and the implementation and research capabilities of a truly global firm. Finally, wealth management clients will have expanded advice and access to tools and products, including Mercer’s retirement savings investment solutions.”
On August 14, 2018, Mercer announced it had signed separate, definitive agreements to acquire the aforementioned operations of Pavilion as well as Summit Strategies Group. Mercer closed the Summit acquisition on November 15, 2018.
Terms of the agreements were not disclosed.
Mercer delivers advice and technology-driven solutions that help organizations meet the health, wealth and career needs of a changing workforce. Mercer’s more than 23,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With nearly 65,000 colleagues and annual revenue over $14 billion, through its market-leading companies including Marsh, Guy Carpenter and Oliver Wyman, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer.