Mercer announces new Managing Director

Mercer announces new Managing Director for Australia/New Zealand

Mercer has announced leadership appointments naming David Anderson as the Managing Director and Market Leader for Australia/New Zealand, while the incumbent, Peter Promnitz, will now focus solely on his role as Region Head for Asia Pacific.

Peter Promnitz has held the dual role of Region Head for Asia Pacific and Chief Executive for Australia/New Zealand since September 2007. Since his appointment as Chief Executive for Australia/New Zealand in 2004, the business has grown to become the second largest of Mercer’s 31 markets globally. As Mercer enters a period of sustained growth across all its markets in Asia Pacific, Mr Promnitz will now be dedicated to his role of Region Head for Asia Pacific.

Peter Promnitz said, “During my time leading Mercer in Australia and New Zealand the industry has undergone a great deal of change. We are now poised for a period of similar growth and change in Asia and it is now time I focus solely on this important role.”

David Anderson, previously Mercer’s Asia Pacific Outsourcing business leader, has been appointed as Managing Director and Market Leader for Australia/New Zealand. Mr Anderson joined Mercer in 1998 from AMP Financial Services and has held a number of key leadership roles within Mercer, including for the highly successful Outsourcing business.

Sandy McCarthy has been appointed to succeed Mr Anderson as leader of Mercer’s Outsourcing business for Asia Pacific, a role which encompasses leadership of Mercer’s superannuation master trust, administration and member services for stand-alone corporate and multi employer superannuation plans and private client financial advisory services.

Ms McCarthy joined Mercer in the US in August 2009 from ING and is a recognised leader in the US retirement and benefit outsourcing industry. She was a member of the founding executive team of CitiStreet and was President and a member of the Board at the time of CitiStreet’s acquisition by ING. Ms McCarthy has held senior level positions at several other financial services institutions including State Street Global Advisors and Fidelity Investments. She will be based in Melbourne.

“I’m handing over to a leadership team of the highest calibre. I’d like to thank David for his outstanding contribution as region leader of our Outsourcing business and I have no doubt his business acumen will contribute to further growth and success for Mercer in Australia and New Zealand. I also welcome Sandy to Australia and her new role; Mercer’s superannuation and outsourcing business will benefit from the expertise she brings,” said Mr Promnitz.

David Anderson added, “It is my privilege and honour to succeed Peter Promnitz. We are experiencing strong growth in these important countries and I am very proud of the work our talented people do to help organisations effectively harness the value of their people and to help millions of Australians and New Zealanders to achieve a financially secure lifetime and retirement”.

Mr Promnitz will continue to be based in Melbourne, and will continue to play an active role in the Australia/New Zealand market while directing Mercer’s growth throughout Asia. In addition to his leadership role with Mercer across Asia Pacific, Peter is also the MMC Chairman for Australia. MMC is the parent company of Mercer, Marsh, Oliver Wyman, Kroll, and Guy Carpenter. In this role Peter provides leadership and support for the MMC operating companies within Australia.

Mr Anderson will continue to be based in Sydney. The new Managing Director and Market Leader appointment is effective from 1 March 2010.

ENDS

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