Mercer restructures investments and retirement leadership

30 August 2022 2 min. read
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Mercer, a global asset management and HR consulting firm, has restructured the leadership of its investments and retirement business.

The changes will see Mick Dempsey succeed Rich Nuzum as president of investments and retirement. Nuzum will take on the newly created role of executive director, investments and global chief investment strategist. Meanwhile, Chris Mahoney will assume the newly created role of global defined benefit/defined contribution (DB/DC) leader, reporting to Dempsey.

Mercer says the restructured team will help the company drive innovation in an increasingly dynamic investments market. The changes will also enhance the firm’s support for DB and DC clients’ actuarial and retirement needs.

Ilya Bonic, head of strategy at Mercer, said, “Together, this leadership team will help our colleagues anticipate and meet client needs today and well into the future. We congratulate Mick and Chris on their new roles and thank Rich for his continued leadership.”

Michael Dempsey and Christine Mahoney - Mercer

Dempsey has been at Mercer since 1999 and most recently served as global leader of investment solutions and outsourced chief investment officer services. The Dublin-based executive previously was European head of the fiduciary management business and head of investment management for EMEA.

He has a master’s degree in business from University College Dublin and a bachelor’s degree in finance from Dublin City University.

Based in Washington, DC, Mahoney has spent 32 years at Mercer and most recently served as US wealth leader. Before that, she was global strategy leader for retirement and health and benefits. Mahoney also previously served as US South market leader, overseeing Mercer’s health, wealth, and career business lines across the region.

She has a bachelor’s degree in economics from Dartmouth College.

“Mercer’s global Wealth business helps clients reshape investment and retirement outcomes,” said Martine Ferland, president and CEO of Mercer. “These leaders have the vision and experience needed to both advise our clients in an ever-changing market and drive Mercer’s growth agenda.”

Mercer’s investment consulting business has more than 1,300 people globally and provides tailored solutions for pension plans and trustees, not-for-profits, insurers, wealth managers, and family offices. The New York-headquartered firm had global assets under management of $380 billion as of March 31, 2021.

The firm, which is part of Marsh McLennan, earlier this summer hired Gene Lohmeyer as US not-for-profit chief investment officer.