Mercer Creates DC and Financial Wellness Business Unit

Senior partner Tom Murphy will lead the unit.

Mercer, a wholly owned subsidiary of Marsh & McLennan Companies announced a number of leadership changes as well as the creation of a U.S. Defined Contribution (DC) & Financial Wellness business unit, which will be led by senior partner Tom Murphy.

This unit brings together specialist DC and financial wellness talent from across Mercer’s U.S. business to provide stronger support to Mercer’s client base. 

Rich Joseph, currently the chief operating officer of Mercer Delegated Solutions (DS) in North America succeeds Murphy as head of the U.S. DS business. Murphy and Joseph both remain in Mercer’s Boston location and their respective new positions are effective immediately. Mercer intends to further expand this team with the addition of complementary, external talent to drive intellectual capital and proposition development in support of existing and future clients.                                   

Also effective immediately, Liana Magner, also based in Boston, is appointed to the role of National DC Investment Segment Leader, and Neil Lloyd, based in Vancouver, is appointed to the role of U.S. DC Research Leader. Both will work within the new DC and Financial Wellness business unit.                                                                                                                                              

“Bringing together our existing DC and financial wellness teams while adding complementary external talent and capabilities will enhance our ability to serve our clients,” says Simon O’Regan, president, North America Region, Mercer. “Our objective is to drive better financial outcomes for our clients and greater individual financial success for their employees. We will achieve this by broadening our suite of services and solutions, leveraging disruptive technology and combining our retirement and other financial management offerings into a single, engaging experience.”