Australia, 4 February, 2021 – Mercer has today announced the appointment of Tim Barber as the Head of Mercer Super, leading the firm’s flagship Mercer Super Trust and related Portfolio Services business. Mr Barber will be responsible for driving the growth of Mercer’s superannuation product, reinforcing the Trust’s competitive position, and delivering strong outcomes for members.
David Bryant, Mercer Australia’s CEO, said Mercer would further cement itself as a high value provider of superannuation under Mr Barber’s leadership.
“Tim brings to Mercer a strong consumer background, having worked with retail businesses to help clients and members achieve the best outcomes possible. This perspective is invaluable to our corporate clients and our 240,000 plus members, and under Tim’s new leadership we’ll better engage, retain and grow our membership. While we’ve recently announced a range of improvements to our pricing and products, Tim will be responsible for leading our ongoing work to ensure Mercer delivers sustainable and competitive value to our clients and members,” Mr Bryant said.
“Tim has proven success in developing and executing robust strategies that deliver meaningful results, and leading high-performing teams. His experience in delivering strong client outcomes will enable us to achieve our aspirations of increasing our market share and continuing to enhance our proposition to the market,” he said.
Mr Barber joins Mercer from Australian Unity, where he has held the role of CEO for Australian Unity Bank for the past four years. Prior to that role he was the Chief Operating Officer and Chief Financial Officer of Australian Unity’s Wealth business. He was also previously a partner at Ernst & Young, focusing on the financial services industry.
“It’s an exciting time for our superannuation business. Globally, we’ve recently reached $321.4 billion USD* in assets under management giving members enormous advantage when it comes to scale and investment performance,” said Mr Bryant.
“Locally, our sector is being continuously challenged, and we have the brightest minds in the industry to embrace the changes while keeping our focus on what we do best – growing retirement outcomes for our clients and their members.”
Mr Barber said Mercer’s one-of-a-kind superannuation offering positioned the fund well to deliver on the needs of clients and members, especially through the sector’s seismic changes.
“What drew me to Mercer was its unique set of strengths, from its best-in-class products to research capabilities, global scale, independence and thought leaders who have played a significant role in shaping the superannuation sector,” said Mr Barber.
“Mercer’s purpose – making a difference in people’s lives – personally resonates with me and how I approach leading a business. I’m looking forward to helping Mercer further leverage these strengths and make a difference to our clients and members. We have a great business at Mercer, and I look forward to collaborating with all our teams to bring more of Mercer to our clients as a valued partner to their businesses,” he said.
Mark Thompson, Acting Head of Mercer Super, will report to Mr Barber upon his commencement in May. Mr Thompson will continue to drive strategic growth for Mercer’s superannuation business, as well as developing new partnerships and commercial opportunities as industry consolidation continues.
*as of 30 September 2020
Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s more than 25,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a business of Marsh & McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 76,000 colleagues and annual revenue of over USD $17 billion. Through its market-leading businesses 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. Follow Mercer on Twitter or LinkedIn.