Mercer Acquires Callan in Investment Consulting Consolidation
A joint announcement from the New York-based Mercer and the San Francisco-based Callan said Callan will be merged with Mercer’s investment consulting business and that the resulting approximately 1,270-employee organization will represent one of the largest players in that niche.
According to the announcement, the transaction is
expected to close near the end of the first quarter of
2009. The terms of the agreement were not disclosed.
“This transaction demonstrates Mercer’s commitment to
invest in businesses that provide long-term strategic
growth and in high-quality investment consulting services
that benefit clients,” said M. Michele Burns, chairman
and chief executive officer of Mercer, in the
announcement.
“[B]y combining forces with Mercer, a global leader, we
can offer clients a wider range of tools and resources,
top-notch professional advice and enhanced research,
educational and quantitative services,” added Ronald D.
Peyton, chairman and chief executive officer of Callan
Associates, in the announcement.
Mercer’s existing investment consultant business features
about 1,100 employees in 41 offices around the world. The
announcement said Callan currently has U.S. offices in
San Francisco, Atlanta, Denver, Chicago, and Florham
Park, New Jersey.
The combined business will continue to have a
presence in those cities in conjunction with Mercer’s
U.S. investment consulting offices in New York, Atlanta,
Boston, Chicago, Dallas, Los Angeles, Philadelphia,
Princeton, Richmond, San Francisco, Seattle, and
Washington, D.C.
Mercer is a wholly owned subsidiary of Marsh &
McLennan Companies, Inc. Founded in 1973, Callan
provides research, education, decision support, and
advice to an array of institutional investors through
five distinct lines of business: Fund Sponsor Consulting,
Independent Adviser Group, Institutional Consulting
Group, Callan Investments Institute, and the Trust
Advisory Group.
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