Marsh McLennan’s Mercer to Acquire Cardano
11 Giugno 2024 - 2:00PM
Business Wire
Mercer, a business of Marsh McLennan (NYSE: MMC) and a global
leader in redefining the world of work, reshaping retirement and
investment outcomes, and unlocking real health and well-being,
today announced that it reached an agreement to acquire
Cardano.
Founded in 2000, Cardano is a long-term savings specialist in
the UK and the Netherlands, with approximately $66 billion in
assets under management1. Terms of the transaction, which is
expected to close near the end of 2024, subject to regulatory
approvals, were not disclosed.
Cardano offers a range of fiduciary management, investment
advisory services, and liability-driven investing and derivatives
solutions to both defined benefit (DB) and defined contribution
(DC) pension schemes in the UK and the Netherlands, the two largest
pensions markets in Europe. Cardano adopts a differentiated model,
offering a combination of direct investment capabilities and
external manager selection, as well as deep pension expertise, a
solutions mindset, and a long heritage in sustainability. Through
NOW: Pensions, Cardano operates the third largest UK master trust
platform2, serving more than two million savers across 27,000
employers, with leadership in the structurally growing
auto-enrollment market.
“We are excited about the opportunity to welcome Cardano to our
Wealth business, which brings with it a high-quality team and
complementary range of specialist investment capabilities,” said
Michael Dempsey, Mercer’s Wealth President. “The acquisition and
alignment of our expertise and capabilities represents a unique and
timely combination to support pension clients and other
institutional investors and their evolving needs.”
“Our combined talent and capabilities will position Mercer as
the pension provider of choice in the UK and the Netherlands. This
will allow us to continue to expand globally beyond pensions to
serve other large asset owners, including endowments and
foundations, family offices and insurers,” said Benoit Hudon,
Mercer’s UK President and CEO. “As always, our aspiration is to
drive even greater value for our institutional investor clients and
help deliver brighter futures for millions of savers.”
“Mercer is the ideal long-term home for our business and
clients,” said Michaël De Lathauwer, Cardano Group’s CEO. “We share
an aligned culture with Mercer, focused on delivering excellent
outcomes for clients, and together, we are committed to being the
best solutions provider for UK and Dutch pension schemes. I am
thrilled our clients and colleagues will have access to everything
Mercer offers, including global resources, a deep bench of
investment talent, strategic advice, manager research and
alternative investment advice. We look forward to being one
multi-disciplinary team and helping our clients navigate the
evolving pension and investment landscape.”
As part of the agreement, approximately 550 Cardano colleagues
in London, Nottingham and Rotterdam will join Mercer, upon
completion of the transaction.
About Mercer
Mercer believes in building brighter futures by redefining the
world of work, reshaping retirement and investment outcomes, and
unlocking real health and well-being. Mercer’s more than 20,000
colleagues are based in 43 countries and the firm operates in over
130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC),
the world’s leading professional services firm in the areas of
risk, strategy and people, with more than 85,000 colleagues and
annual revenue of $23 billion. Through its market-leading
businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh
McLennan helps clients navigate an increasingly dynamic and complex
environment. For more information, visit mercer.com. Follow Mercer
on LinkedIn and X.
About Cardano
Founded in 2000, Cardano is a privately-owned investment
management and advisory business with a focus on risk and
sustainability. Widely recognized as a market leader, its c. 550
professionals support pension schemes and other long-term savings
organizations in the United Kingdom and Europe (predominantly in
the Netherlands) to secure better, resilient, and more sustainable
financial outcomes for savers, employers, and wider society. For
more information, visit https://www.cardano.co.uk/about-us/.
_______________________________________ 1 As of December 31,
2023 2 By number of members, as of December 31, 2023
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version on businesswire.com: https://www.businesswire.com/news/home/20240611922730/en/
Media Contacts: Amelia Woltering Mercer +1 347 703 5358
Amelia.woltering@mmc.com
Emily Cullen Cardano +44 (0)7718 325 409
e.cullen@cardano.com
Grafico Azioni Marsh and McLennan Compa... (NYSE:MMC)
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Grafico Azioni Marsh and McLennan Compa... (NYSE:MMC)
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