Marsh strengthens Mercer’s investments leadership to drive client impact
NEW YORK, April 8, 2026 ─ Mercer, a Marsh business (NYSE: MRSH) and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, today announced changes to its investments leadership designed to accelerate client impact, help clients continue to navigate uncertainty, and build long-term growth amid a rapidly-shifting investments landscape.
"These leadership changes position Mercer to continue to partner with our institutional investor clients to deliver integrated, outcome-focused advice and solutions for their evolving needs," said Hooman Kaveh, Mercer’s Global Chief Investment Officer.
Niall O’Sullivan, Mercer’s Global Solutions Chief Investment Officer, added: "We have a strong team and a deep bench of talent with complementary experience. Together, these leaders will help us continue to drive innovation, scale our differentiated investment solutions, expand our clients’ access to private markets solutions and deliver client service excellence.”
Garvan McCarthy named Global Alternatives Chief Investment Officer
Garvan McCarthy has been named to the newly created role of Global Alternatives Chief Investment Officer. In this pivotal role, he will lead Mercer’s global Alternatives platform, comprising the global and regional investment teams focused on private-market asset classes, including private credit, private equity, real assets and hedge funds. Mercer has been expanding its private markets capabilities, deepening general partner relationships, and building a track record of innovative private markets advice and solutions for asset owners for over 30 years.
Mr. McCarthy will continue to serve as EMEA and Asia Chief Investment Officer until a successor is announced. He will also continue in his role as Co-CEO of Mercer Alternatives AG and continue to be based in Dublin.
Mr. McCarthy joined Mercer in 2003 and has since assumed roles of increasing responsibility. In his current role, he leads a team of investment professionals focused on designing and implementing investment solutions across total portfolios of public and private assets. He previously served in several leadership roles across alternative investments, including as Alternatives Leader for several regions. He has deep experience in private equity, private credit, real assets and hedge funds, having led portfolio management for institutional clients across multiple markets for many years.
Andrew McDougall named US Chief Investment Officer
Andrew McDougall has been appointed US Chief Investment Officer. In this role, he will lead Mercer’s investment capabilities in the United States, driving investment outcomes for single-asset and total portfolios across Mercer’s diverse client segments and continuum of investment solutions. Drawing on Mercer’s full breadth and depth of expertise, Mr. McDougall will help ensure the US investment practice continues to serve client needs in this critical market. He will be based in Boston.
Mr. McDougall is a long-standing Mercer Investments leader with a proven track record in multi-asset strategy, designing and implementing outcome-oriented solutions across public and private markets. He brings deep expertise and insights from other regions, drawing on his recent experience as Global Head of Multi-Asset, as well as prior leadership roles in portfolio management for Mercer’s European investments business.
Mike Sebastian named Global Head of Multi-Asset
Mike Sebastian has been named Global Head of Multi-Asset, where he will lead the global team responsible for total portfolio construction across public and private markets and supporting the organization in the areas of reference portfolios, macro research views and intellectual capital, economics and dynamic asset allocation (DAA), multi-asset manager research and market event responses. He will be based in Chicago.
Mr. Sebastian joins Mercer from Syntrinsic, where he was the Head of Investment Solutions and led market views, asset allocation, portfolio construction and manager research. He brings extensive experience in managing and advising on portfolios across diverse client types, as well as leading teams across North America, Europe, the Middle East and Asia from prior senior investment leadership roles at Aon and NextCapital Group.
Kam Chang named Head of Investment Partnerships Group
Kam Chang has been appointed Head of the Investment Partnerships Group, a global team of specialized and experienced investment professionals dedicated to meeting the unique needs of clients with large and complex investment mandates. The team builds on Mercer’s extensive global capabilities across customized portfolio solutions, investment advisory and research.
Mr. Chang joined Mercer as part of the SECOR acquisition last year. He has three decades of experience in investment management at Promark Global Advisors, formerly General Motors Asset Management, and SECOR, where he served as Principal. He has extensive experience in shaping investment strategies through strategic asset allocation, portfolio construction and dynamic asset allocation.
Mr. Chang succeeds Tony Kao, who joined Mercer with the SECOR acquisition, and is retiring after a distinguished career in investments. Mr. Chang will continue to be based in New York.