Mercer, a worldwide asset administration and HR consulting agency, has restructured the management of its investments and retirement enterprise.

The modifications will see Mick Dempsey succeed Wealthy Nuzum as president of investments and retirement. Nuzum will tackle the newly created position of government director, investments and world chief funding strategist. In the meantime, Chris Mahoney will assume the newly created position of world outlined profit/outlined contribution (DB/DC) chief, reporting to Dempsey.

Mercer says the restructured group will assist the corporate drive innovation in an more and more dynamic investments market. The modifications can even improve the agency’s assist for DB and DC shoppers’ actuarial and retirement wants.

Ilya Bonic, head of technique at Mercer, stated, “Collectively, this management group will assist our colleagues anticipate and meet shopper wants immediately and properly into the longer term. We congratulate Mick and Chris on their new roles and thank Wealthy for his continued management.”

Dempsey has been at Mercer since 1999 and most not too long ago served as world chief of funding options and outsourced chief funding officer providers. The Dublin-based government beforehand was European head of the fiduciary administration enterprise and head of funding administration for EMEA.

He has a grasp’s diploma in enterprise from College Faculty Dublin and a bachelor’s diploma in finance from Dublin Metropolis College.

Based mostly in Washington, DC, Mahoney has spent 32 years at Mercer and most not too long ago served as US wealth chief. Earlier than that, she was world technique chief for retirement and well being and advantages. Mahoney additionally beforehand served as US South market chief, overseeing Mercer’s well being, wealth, and profession enterprise strains throughout the area.

She has a bachelor’s diploma in economics from Dartmouth Faculty.

“Mercer’s world Wealth enterprise helps shoppers reshape funding and retirement outcomes,” stated Martine Ferland, president and CEO of Mercer. “These leaders have the imaginative and prescient and expertise wanted to each advise our shoppers in an ever-changing market and drive Mercer’s progress agenda.”

Mercer’s funding consulting enterprise has greater than 1,300 individuals globally and supplies tailor-made options for pension plans and trustees, not-for-profits, insurers, wealth managers, and household workplaces. The New York-headquartered agency had world property underneath administration of $380 billion as of March 31, 2021.

The agency, which is a part of Marsh McLennan, earlier this summer time employed Gene Lohmeyer as US not-for-profit chief funding officer.