NEW YORK-- April 04, 2023 -- Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, today announced that its Mercer business completed the merger of BT Super into the Mercer Super Trust, creating one of Australia’s most competitive super funds. Mercer today also announced completion of the acquisition of Advance Asset Management Limited, further expanding its capability as a leading investment multi-manager in Australia.

The Mercer Super Trust is now one of the 15 largest funds in Australia with approximately 850,000 members and $63Bn* total assets under management. Mercer is one of the world’s leading retirement advisors and investment managers with $345 billion of assets under management and $16.5 trillion of retirement assets under advisement.*

“Redefining retirement and preparing for the new economy of longer lives is a priority for Mercer and our clients,” said Martine Ferland, President and CEO, Mercer. “Today, we take a meaningful step in our journey to build brighter financial futures and are pleased to offer hundreds of thousands of Australians increased investment choices and enhanced member experiences.”

Members also will have access to additional benefits and support services including Care & Living with Mercer and complimentary limited financial advice as it relates to their superannuation, and many members of the merged Mercer Super Trust will benefit from meaningful fee reductions.

David Bryant, CEO Marsh McLennan Pacific and President Mercer Pacific, said the merger will transform the superannuation sector for the ultimate benefit of Australians.

“We promised members that we would deliver them a market-leading offering in terms of benefits, performance and pricing and, today, we’re delivering on that promise,” Mr. Bryant said.

“Leveraging our global scale and the insights of our team of approximately 2,000 investment professionals around the world, Mercer Super members will benefit from being part of one of the most competitive super funds in Australia, and this is only the beginning.”

*Based on assets under management and assets under advisement as of 31 December 2022; shown on a combined basis for BT Super and Mercer Super.