Even as many U.S. baby boomers are deciding to postpone or even reject retirement, Mercer, the consulting giant, is bulking up its retirement services in developing nations.
The company announced Tuesday it had created two new management positions aimed at securing more business in such markets as Asia, the Middle East, Africa and Latin America.
The company promoted Akhil Sethi from global COO and regional business leader-Latin America, to director of its retirement business in emerging markets. At the same time, Jeff Schutes was named head of investments business in emerging markets, after spending 18 months as Mercer's global leader of its wealth management team and manager of research.
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Both are newly created positions, indicating that Mercer is continuing to build its presence as a leader in retirement services in emerging markets.
The company also announced that Andrew Kirton has been appointed head of Mercer's investments business in Europe, succeeding Tom Geraghty, who has assumed the post of market leader and chief executive officer for Ireland.
"One of our objectives is to rotate responsibilities in order to expand the breadth of our leaders' expertise and to gain the benefit of cross-fertilization of experience across investment disciplines," said Julio Portalatin, president and chief executive officer of Mercer. "The newly created roles for Jeff and Akhil reflect our commitment to invest in and maximize our opportunities in the growth markets."
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
