Mercer has announced the appointment of industry veteran Cathy Hales to the newly created role of chief executive officer, wealth Pacific.
According to the firm, Ms Hales will lead Mercer’s wealth portfolio in Australia and New Zealand, comprising the Mercer Super Trust, its multi-manager and investment solutions business, and its superannuation services arm which provides superannuation administration and financial advice to clients.
Ms Hales brings three decades of financial services experience to the role, having worked across early stage and established multinational businesses in Australia, the US, and Europe.
Notably, she previously served as the global head of Fidante Partners, the multi-boutique asset management arm of Challenger Group.
Before this, Ms Hales was managing director and global chief operating officer, client relations and marketing at RREEF, Deutsche Bank’s global alternative asset management operation.
Commenting on the appointment, David Bryant, CEO of Marsh McLennan Pacific and president, Mercer Pacific, said: “Helping our clients reshape investment and retirement outcomes is the core of what we do at Mercer, and we have made significant inroads in expanding our capability in this space over the past two years.
“Cathy has the vision and experience needed to advise our clients in an ever-changing market and drive Mercer’s strong investments and retirement growth agenda in the Pacific region,” Mr Bryant added.
Ms Hales commenced with Mercer on Monday and is based in Sydney.
The creation of the new role comes after Holden Employees Superannuation Fund (HESF) transitioned into the Mercer Super Trust, which was indicated to have taken place in early June, via a successor fund transfer following an agreement between HESF and Mercer.
The move follows two significant mergers for Mercer Super in the past year with BT Super and Lutheran Super.
A spokesperson for Mercer Super told InvestorDaily in May that the fund, which now ranks as one of the 15th largest super funds in Australia, was pursuing a strategy of growth.
“Continuing to grow our local scale, combined with our growing global scale, is a key ingredient in providing a great value proposition for members,” the spokesperson said.
When asked whether the fund was planning to pursue additional mergers in the future, the spokesperson added: “Our intention is to keep growing and investing in Mercer Super, both organically and inorganically, for the benefit of our members.”
