August 14, 2018

Global, New York/London

Acquisition will enhance Mercer’s capabilities in not-for-profit segment

Mercer, a global consulting leader in advancing health, wealth and career, and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), has signed a definitive agreement to acquire Summit Strategies Group (“Summit”), a leading investment consultant headquartered in St. Louis, Missouri. 

“Summit is a strong investment consultant in the not-for-profit space, providing notable alternatives capabilities to hospitals and foundations.” said Rich Nuzum, President, Mercer’s global Wealth business. “The depth and breadth of Summit’s expertise, coupled with our offerings, will benefit our collective client bases. We look forward to integrating our teams and offerings to provide a wider array of services.” 

Founded in 1995 to provide high value‐added investment consulting services to institutional clients, Summit’s experienced team of results‐driven investment professionals provide focused and customized attention to its clients. With approximately $160 billion under advisement as of December 31, 2017, Summit has been ranked as a Greenwich Quality LeaderSM in 2015 and 2016 by Greenwich Associates. Summit’s services include traditional consulting (for defined benefit pension plans, health care systems, endowments and foundations), defined contribution services and outsourced chief investment officer (OCIO) support. 

“We believe that having a global research footprint and a robust technology platform will better position us to support our clients. We’re excited to join Mercer and be able to bring their research capabilities and spectrum of holistic offerings to our clients.” said Steve Holmes, Principal and Founder, Summit. “We are eager to integrate Summit’s innovative and customized solutions and our unwavering commitment to a service culture with Mercer’s global research network and its client experience.” 

This transaction is subject to customary conditions to closing and is expected to close in Q4 2018. 


About Mercer

Mercer delivers advice and technology-driven solutions that help organizations meet the health, wealth and career needs of a changing workforce. Mercer’s more than 23,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With nearly 65,000 colleagues and annual revenue over $14 billion, through its market-leading companies including Marsh, Guy Carpenter and Oliver Wyman, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit Follow Mercer on Twitter @Mercer

About Summit Strategies Group

Summit Strategies Group is one of the industry’s leading investment consultants focused on developing long-term partnerships with institutional investors. Founded in 1995, they have been serving clients, including endowments and foundations, hospitals and health care systems, public funds and corporations (defined benefit and defined contribution plans), for more than 20 years.  Summit Strategies Group is a traditional full-service consulting, defined contribution and outsourced CIO services. Their extensive in-house resources and research capabilities help clients meet their investment objectives. The team includes highly experienced professionals in the areas of consulting, capital markets and risk management, manager research, operational due diligence, and performance measurement and analytics.