Jeffrey Schutes was named global head of manager research and wealth management at Mercer, and Rich Nuzum was named head of investments for the U.S.
Both positions are new and are part of an effort by Mercer to “integrate global investment consulting and investment management,” a Mercer news release said.
As part of the reorganization, the executives will report directly to Phil de Cristo, president and group executive of investments.
“We need to adjust to client needs, the changing client environment and the changing marketplace,” Mr. Schutes said in a telephone interview.
Mr. Schutes was head of investment consulting in the U.S. Mr. Nuzum had been global head of investment management. Because of the reorganization, their previous jobs won't be filled.
Mr. Nuzum said in another telephone interview that the reorganization is a response more to organic growth than growth from recent acquisitions — Hammond Associates in January 2011 and most of Evaluation Associates from Milliman in May 2011.
“Organic growth has outstripped acquisitions on a global level,” Mr. Nuzum said.
Andrew Kirton retains his job as global chief investment officer “with an increased emphasis on strengthening Mercer's portfolio management and strategic research capabilities,” according to a Mercer news release. Mr. Kirton also will report to Mr. de Cristo.
Among the other changes, all new positions reporting to Mr. de Cristo are:
- Tom Geraghty was named head of investments for Europe, Middle East and Africa. He will retain his previous responsibilities as head of investment consulting for EMEA.
- Stephen Roberts was named head of investments for Asia-Pacific. His previous post as head of investment management for Asia-Pacific was eliminated.
- Ted Singeris was named head of investments for Canada and Latin America. He was head of investment consulting for Canada and Latin America, a job that also was eliminated.
The six executives are all senior partners at Mercer.