Mercer agreed to acquire PricewaterhouseCoopers' pension windup business in Canada, according to a news release issued Thursday.
Terms were not disclosed. The transaction is expected to close by the end of the third quarter.
The PwC business will be moved into the Mercer Canada windup business, said Paul Forestell, senior partner and market retirement leader for Mercer Canada, in an interview.
Sharon Carew, associate partner with PwC and leader of that firm's pension windup business in Canada, will join Mercer as a principal, Mr. Forestell said. Other staff members of the PwC unit will be offered positions at Mercer.
The Canadian pension windup business involves the administration of pension funds that are being wound down, usually because of corporate bankruptcy, Mr. Forestell said.
Iya Davidson, spokeswoman at PwC, said the company would not comment.
