Mercer Announces Acquisition of SECOR Asset Management
Mercer, a prominent business division of Marsh McLennan, has revealed its plans to acquire SECOR Asset Management, a distinguished global provider specializing in tailored strategic and portfolio solutions. The financial terms of the transaction, which are pending regulatory approvals and client consents, have not been disclosed. The acquisition is anticipated to be finalized in the second quarter of 2025.
Founded in 2010 by industry experts Tony Kao, Ray Iwanowski, and their partners, SECOR boasts an impressive $13.8 billion in assets under advisement and $21.5 billion in assets under management as of September 30, 2024. The firm caters to the intricate requirements of institutional investors, including pension funds, insurance companies, endowments, and family offices. SECOR offers a comprehensive suite of portfolio solutions that encompasses investment advisory, implementation, fiduciary management, and asset liability management.
Once the acquisition is completed, SECOR’s dedicated team of over 40 professionals based in New York and London will become a part of Mercer. Michael Dempsey, Mercer’s Wealth President, expressed enthusiasm about the integration, stating: “SECOR’s exceptional team is highly regarded in the industry for their extensive experience working alongside in-house investment teams and their proven track record in specialized investment implementation.”
Dempsey further added, “We are excited about the opportunity to welcome this talented group and to enhance our range of solutions tailored to the unique needs of institutional investors.”
In response, Tony Kao, SECOR’s Managing Principal and Chief Investment Officer, commented: “It’s fantastic that our colleagues will have the chance to further their careers at Mercer. Our clients will also reap the benefits from Mercer’s extensive global resources, valuable insights, and seasoned investment expertise once the transaction is finalized.”
Kao, who has experience as both an in-house Chief Investment Officer and a partner to various clients, emphasized, “I firmly believe that Mercer is the ideal steward for the future of our business.”
