Mercer undergoes global restructure

Mercer has finalised the global restructure communicated internally to staff in December.

The goal of the restructure was to reorganise Mercer's global business under three lines: health, wealth and career. A Mercer spokesperson said the new structure "simplifies Mercer's organisation, allows client facing colleagues to respond even more quickly to clients' needs and empowers local management to make more local decisions."

It's unclear at this stage whether there have been any redundancies as a result of the restructure - Mercer did not comment on this directly - but the spokesperson noted the influx of about 700 new employees in Australia and New Zealand following the acquisition of Pillar, adding the restructure had nothing to do with said acquisition.

There was already evidence of the restructure at a local level in December, when Cambell Holt was appointed the new chief customer officer after his predecessor, Renee McGowan, relocated to New York to become Mercer's global head of individual retirement savings.

Before taking on her previous role, McGowan was executive director of Mercer Financial Advice in Australia and chief customer officer, Pacific. Other roles included strategy and business change leader, Australia/New Zealand; product development leader, Australia/New Zealand; and marketing leader, Australia/New Zealand.

The news of the restructure also follows Mercer's high-profile partnership with Virgin Super, which will see Mercer open a direct-to-consumer superannuation fund this year.

Read more: AustraliaNew ZealandAustralia/New ZealandCambell HoltMercer Financial AdviceNew YorkPacificPillarRenee McGowanVirgin Super
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