Mercer, a global consulting leader in advancing health, wealth and career, and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), has announced the expansion of its Australian Portfolio Management senior leadership team with the appointment of Ronan McCabe as Head of Portfolio Management.
Kylie Willment, Mercer’s Chief Investment Officer – Pacific, said the newly created role was a strategic move to increase the number of dedicated senior leaders in the team.
“Having recently welcomed Campbell McCulloch to the role of Head of Fund Implementation, Ronan’s appointment further bolsters our capabilities in investment strategy design, portfolio management and fund implementation,” Ms Willment said.
“We’ve had some fantastic results with our funds performing strongly. For the year to 30 September 2018, our SmartPath default MySuper investment option returned 12.7 per cent after tax and investment fees for the largest cohort of our members, and the Mercer Growth Fund achieved a return of 10.5 per cent after tax and investment fees.
“With a more robust senior leadership structure for our Portfolio Management team, we can further build on these figures and deliver even better investment outcomes for our investors,” she said.
Mr McCabe joins Mercer from the Irish Strategic Investment Fund (ISIF), the sovereign wealth fund of Ireland, where he was a senior investment manager. He has previously held portfolio management roles at Pioneer Investments (part of the Amund group, Europe’s largest asset manager), Incisive Capital Management and DZ Bank Ireland.
Relocating from Dublin to Sydney and commencing in February 2019, Mr McCabe will be responsible for leading manager selection and portfolio construction at the asset class level for the Mercer Funds. In addition to his strong skills and expertise in multi-manager portfolio management, Mr McCabe also brings to Mercer a diverse perspective through his international experience.
Ms Willment also announced the retirement of Chief Market Strategist, Dave Stuart.
“Dave is highly regarded by clients and colleagues, and will be sorely missed. We wish him all the best in his retirement,” she said.
During his time at Mercer, Mr Stuart has been the lead consultant for a number of Mercer’s key consulting clients. He has also led the formulation of dynamic asset allocation (DAA) views for the Pacific region. Mr Stuart has served as Chair of the Mercer Australia DAA Committee and was previously Chair of the Global DAA Committee, among other roles. His last day at Mercer will be Friday 21 December 2018.
Mercer delivers advice and technology-driven solutions that help organisations meet the health, wealth and career needs of a changing workforce. Across the Pacific, organisations look to Mercer for global insights, thought leadership and product innovation to help transform and grow their businesses.
Mercer’s more than 23,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk , strategy and people. With more than 65,000 colleagues and annual revenue over $14 billion, through its market-leading companies including Marsh, Guy Carpenter and Oliver Wyman, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.mercer.com.au.