Bryan Decker, MaryAnn DiMaggio and Sean Cribbin left Evaluation Associates, confirmed Edward Brown, employee benefits practice director for the investment consulting firm’s parent company, Milliman.
Mr. Decker was a principal, managing director and chief investment strategist with Evaluation Associates; Ms. DiMaggio was a principal and director of global fixed-income research; and Mr. Cribbin served as an equity research analyst.
Efforts to contact all three weren’t immediately successful.
The departures come after the May 26 announcement that Milliman had agreed to sell the bulk of Evaluation Associates’ business to Mercer Investment Consulting, with Callan Associates agreeing to take on the firm’s U.S. public defined benefit client segment. Mercer in late 2010 announced it would exit the U.S. public defined benefit business.
Mr. Brown said the departures of “very talented” executives such as Mr. Decker and Ms. DiMaggio “to pursue other interests” should have no impact on the deal.
Mercer executives have said they would review the combined investment consulting resources at Mercer and Evaluation Associates before announcing a reorganization later this year. Milliman won’t be filling the positions left open by those departures, Mr. Brown said.
Mercer spokeswoman Stephanie Poe declined to comment.