The acquisition was driven, in part, by Mercer's acquaintance with the firms' defined contribution consulting talent, said Rich Nuzum, president of Mercer's global wealth business, in an interview. (Photo: Shutterstock)
Mercer's announced acquisition of Canadian-based Pavilion Financial Corporation and St. Louis-based Summit Strategies Group will augment the firm's alternative asset, not-for-profit, and wealth management consulting capabilities.
Pavilion's $685 billion in assets under management made it the 13th largest investment consultancy in 2017. Summit's AUM was $160 billion at the end of 2017. In a release, Mercer cited the strength of Pavilion's alternative asset consulting capabilities and its Canadian private wealth management business, and Summit's reach in the not-for-profit space.
The acquisition move was driven, in part, by Mercer's acquaintance with the firms' defined contribution consulting talent, said Rich Nuzum, president of Mercer's global wealth business, in an interview.
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