Deals and People

Retirement Industry People Moves

VALIC expands leadership team; Wagner and McDermott hire new attorneys, and more.

By PLANSPONSOR staff editors@plansponsor.com | September 16, 2016
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Segal Rogerscasey to Acquire Marco Consulting Group

Investment consulting business Segal Rogerscasey has signed an asset purchase agreement to acquire the business of Marco Consulting Group (MCG), effective January 1, 2017. MCG provides investment consulting to U.S. multiemployer benefit plans. The new firm will be known as Segal Marco Advisors and have combined investment advisory assets exceeding $500 billion.

Segal Marco Advisors expects to employ approximately 150 investment, consulting and research professionals to serve more than 400 clients. John DeMairo, Segal Rogerscasey president and CEO, will continue in this role at the new firm. MCG co-founders Jack Marco and Tom Mitchell Sr. will serve as advisers.

Segal Marco Advisors will be headquartered in New York City and maintain what The Segal Group terms “a significant presence in Chicago, operating out of the current MCG office.” In addition, it will have offices in Atlanta, Boston, Chicago, Cleveland, Dallas, Denver, Los Angeles, Seattle, and Darien, Connecticut, as well as Toronto and Dublin.

“In the many years we’ve competed with MCG, we have always been impressed with its people and investment solutions,” says DeMairo. “Combining our strengths will not only be good for our clients but will also make us more competitive in our chosen markets.” 

Mitchell points to the value of both firms being privately held, which will allow the combined entity to retain client focus, he says.  

NEXT: VALIC Expands Leadership Team

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