Mercer to Acquire SECOR Asset Management
Mercer, a division of Marsh McLennan, has announced its intention to acquire SECOR Asset Management, a leading provider of tailored strategic and portfolio solutions on a global scale. Although specific financial terms of the deal remain undisclosed, the acquisition is anticipated to be finalized in the second quarter of 2025, subject to regulatory approvals and consent from clients.
Founded in 2010 by Tony Kao, Ray Iwanowski, and their partners, SECOR is responsible for advising assets worth $13.8 billion and managing assets totaling $21.5 billion as of September 30, 2024. The company is renowned for addressing the intricate requirements of institutional investors, including pension funds, insurance firms, endowments, and family offices, through a comprehensive suite of portfolio solutions. These solutions span investment advisory and implementation, fiduciary management, and asset liability management.
Following the completion of this acquisition, SECOR’s talented team of over 40 professionals, based in New York and London, will integrate into the Mercer framework.
Michael Dempsey, the Wealth President of Mercer, expressed enthusiasm, stating, “SECOR’s exceptional team is highly regarded in the industry for their extensive experience working with in-house investment teams and proven expertise in specialized investment implementation. We are thrilled at the opportunity to welcome this talented group and to continue developing a comprehensive and agile suite of solutions designed for the distinct needs of institutional investors.”
Adding to this, Tony Kao, SECOR’s Managing Principal and Chief Investment Officer, remarked, “It’s terrific that our colleagues will have the opportunity to advance their careers at Mercer and that our clients will benefit from access to Mercer’s extensive global resources, valued insights, and seasoned investment talent once the transaction is finalized. Having served as both an in-house Chief Investment Officer and a partner to clients, I believe that Mercer is the ideal steward for our business’s future.”
