Mercer and Vanguard introduced this week that the previous is shopping for the latter’s outsourced chief funding officer enterprise, which supplies funding administration providers for not-for-profit organizations and different institutional traders in the US.
As a part of the settlement, Vanguard’s roughly 120-person outsourced CIO staff is predicted to switch to Mercer as full-time staff, upon completion of the transaction, which is predicted to be within the first quarter of 2024.
In a press release, Marc Cordover, Mercer’s U.S. investments and retirement head, says the acquisition of Vanguard’s outsourced CIO unit will bolster its present outsourced funding administration and alternate options capabilities.
As Cordover notes, institutional traders and not-for-profit organizations proceed to face a spread of challenges, and there’s growing demand for world funding experience to remain forward of the curve.
