Mercer Global Investments, the multimanager investment unit of Mercer Human Resource Consulting, formally launched operations in the United States Monday with four clients and combined assets under management of more than $300 million, said Barry McInerney, MGI's U.S. president. The United States is now MGI's second market after Australia, where Mercer, under the Australian Master Trust name, has clients with just less than US$6 billion.
The market for multimanagers is growing, and Mercer's global reach and capacity for offering bundled, integrated services leave it is well positioned to compete, Mr. McInerney said in an interview.
"With MGI off to a promising start in the U.S. and plans well under way for expansion into the U.K., Ireland and continental Europe, Japan and Canada, we expect this to be an important growth business for us," Mercer Human Resource Consulting CEO Brian Storms said in a press release.
