Tim Barber is taking the role, where he will be leading the firm’s flagship Mercer Super Trust and related portfolio services business.
Mr Barber will be held responsible for driving the growth of Mercer’s superannuation product and reinforcing the trust’s competitive position.
He will be joining the company after being the chief executive of Australian Unity Bank for the last four years and previously being the chief operating officer and chief financial officer the company’s wealth business.
Mr Barber was also previously a partner at Ernst & Young, where he focused on the financial services industry.
Mercer Australia CEO David Bryant explained Mr Barber’s consumer and retail background will be useful as the company aspires to increase its market share.
“This perspective is invaluable to our corporate clients and our 240,000 plus members and under Tim’s new leadership we’ll better engage, retain and grow our membership,” Mr Bryant said.
“While we’ve recently announced a range of improvements to our pricing and products, Tim will be responsible for leading our ongoing work to ensure Mercer delivers sustainable and competitive value to our clients and members.”
Mr Bryant added it is an “exciting time” for the superannuation business.
“Globally we’ve recently reached US$321.4 billion in assets under management, giving members enormous advantage when it comes to scale and investment performance,” he said.
“Locally, our sector is being continuously challenged and we have the brightest minds in the industry to embrace the changes while keeping our focus on what we do best – growing retirement outcomes for our clients and their members.”
Mark Thompson, acting head of Mercer Super, will report to Mr Barber upon his commencement in May.
