Mercer announced today that it has acquired Denarius, a leading compensation and benefits survey and information products consulting firm based in Santiago, Chile. The acquisition further strengthens Mercer’s capabilities in Chile, building upon strong relationships the firm has with multinationals and expanding Mercer’s business with Chilean-based business organizations that rely on the expertise of Denarius.
“The combined strength of Mercer and the capabilities of Denarius address the growing interest of Chilean organizations in effectively managing their most important asset, their people, and thus achieving competitive advantage,” said Eduardo Ragasol, head of Latin America at Mercer. “Increasingly, successful organizations in Chile recognize the importance of good information on which to base decisions about how best to attract and retain key talent. Clients of both Mercer and Denarius will benefit from the scope, scale, and resources that we can apply to help them achieve success.”
The Denarius senior management team joining Mercer includes Gloria Landabur, Denarius General Manager, who will continue leading the Denarius organization, now reporting to Pablo Garcia Yañez, Chile Country Manager and Talent Leader, and Javier Tabakman, Latin America Talent Leader.
Terms of the transaction were not disclosed.
Mercer is a global leader in talent, health, retirement, and investments. Mercer helps clients around the world advance the health, wealth, and performance of their most vital asset – their people. Mercer’s more than 20,000 employees are based in 42 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy, and human capital. With over 53,000 employees worldwide and annual revenue exceeding $11 billion, Marsh & McLennan Companies is also the parent company of Marsh, a global leader in insurance broking and risk management; Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a global leader in management consulting. For more information, visit www.mercer.com. Follow Mercer on Twitter @MercerInsights.
Denarius was funded by Seminarium Penrhyn, a leading executive search and selection company. Its history dates to 1998, when aiming to provide Seminarium’s clients with the most reliable information on competitive market rates, the firm decided to conduct an executive compensation survey which then expanded over time. As a result, in 2008 Seminarium formed Denarius, a new company specialized in highly analytical and reliable high-level compensation surveys. Denarius has been very successful and after three years it was the leading company providing data on compensation of top executives in terms of sample size. Today Denarius is the leading compensation survey company in Chile, with a portfolio of 14 products and a database composed of more than 600 companies which each year provide confidential compensation data not available from other sources.