Mercer has created a new Global Chief Investment Officer (CIO) role in response to the rapid evolution of its investment management business, which now manages more than $US44 billion globally. Russell Clarke, Mercer’s current Asia Pacific CIO, will take the new role of ‘Global CIO, Mainstream Assets’ and report to the firm’s London-based Global CIO, Andrew Kirton.
As CIO, Mainstream Assets, Mr Clarke is now responsible for worldwide investment management decisions concerning all traditional asset classes including equities, property, fixed interest and multi-asset portfolios.
“Our business is growing rapidly - both in terms of assets under management and the range of investment strategies we’re bringing to market in response to client needs,” said Mr Kirton.
“As we evolve our portfolio management activities to an increasingly global footing and integrate it more closely with the underlying strategic and manager research that underpins it, the need for a pivotal leadership role in managing the challenges of the growing scale and complexity has become apparent,” he said.
The new role is a logical extension of Mercer’s reorganisation earlier this year of alternatives research and portfolio management activities along global lines, according to Mr Kirton.
“That reorganisation saw the formation of an Alternatives Investment Committee, chaired by our CIO, Alternative Assets, Bill Muysken, and an expansion of Bill's role to take in both beta and alpha strategies. Some of the changes introduced in respect of alternatives will also be applicable to mainstream assets and part of Russell Clarke's role will be to work closely with Bill exploring the scope of potential crossovers,” he said.
Regional CIOs across the globe will now report to Mr Clarke, including Andrew Howard who has been appointed his replacement in Asia Pacific. Mr Howard’s appointment is also an internal promotion from his role for the past seven years as Mercer Australia's Senior Portfolio Manager. Phil Graham, Mercer Australia’s Senior Portfolio Strategist since 2007, becomes Deputy CIO, Asia Pacific. Staff hires are planned over the coming months to fill the vacancies resulting from these promotions.
”We’re delighted to be able to fill these roles with such high-calibre internal candidates. These appointments are testament to the career prospects for talented individuals in our organisation,” said Mr Stephen Roberts, Mercer’s Regional Business Leader, Investment Management, Asia Pacific.
Mr Roberts said Mercer’s Australian and New Zealand investment management clients would benefit from Mr Clarke’s move to the new global role as it would enable even stronger advocacy of local issues at the highest levels within Mercer internationally.
Mr Clarke reassured Mercer’s local clients that he was “transitioning to a most capable successor” in Andrew Howard, who has worked closely with him over the past seven years and “has a deep insight into and appreciation of the needs and challenges of local investment management clients.”
“I will be transferring my responsibilities to Mr Howard in a phased, orderly fashion to ensure continuity and a smooth transition. Andrew will continue to report to me, so I’ll retain high-level oversight of the local portfolios going forward,” said Mr Clarke.
|
