Mercer signs Management Transition Agreement for BT Private Portfolio Management 

Australia, 8 May, 2023

Mercer, a business of Marsh McLennan (NYSE: MMC) and a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being announced today that an agreement was reached with Westpac Group to transition BT’s Private Portfolio Management (PPM) business to Mercer.

This follows Mercer’s acquisition of Advance Asset Management Limited and recent transfer of BT Super into the Mercer Super Trust.

Simon Eagleton, Investments Leader for Mercer in the Pacific region, welcomed PPM clients and colleagues and said, “PPM is a strong business with a unique proposition, providing natural synergies with Mercer’s current investment services.”

“Mercer is a well-established multi-manager in Australia, with a long history serving the needs of large endowments and foundations, and more recently individuals intermediated by financial advisers. The addition of PPM allows us to service the entire investor market – from our Mercer Super Trust members through to private clients and family offices – and support even more investors in achieving their wealth objectives,” he added. 

As investors around the world grapple with significant upheaval in markets, Mercer’s global team of approximately 2,000 investment professionals is well positioned to address clients’ most pressing investment challenges and opportunities. These capabilities will help to unlock new and emerging investment solutions for PPM clients.

PPM’s transition to Mercer is due to occur in the fourth quarter of 2023. At that time, Mercer will welcome new colleagues from PPM to continue relationship management, client service and operations support functions.