NEW YORK, November 04, 2024--(BUSINESS WIRE)--Mercer, a business of Marsh McLennan (NYSE: MMC) and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, today announced the completion of the acquisition of Cardano. Terms of the transaction were not disclosed.

The addition of Cardano cements Mercer’s position as one of the leading providers of pension services in the UK and the Netherlands and advisory and investment solutions to institutional investors globally.

Michael Dempsey, Mercer’s Wealth President, said: "We welcome Cardano’s talented colleagues and their clients. Together, we will be well positioned to deliver greater value and meet the evolving needs of our clients. Our combined capabilities and resources will create a broad and relevant suite of investment solutions to support institutional investors and a timely partnership in working with large asset owners across the world."

With this transaction, Cardano’s UK Defined Contribution (DC) Master Trust, now:pensions, will broaden the range of DC Master Trust solutions – from auto-enrolment through to bespoke offerings – available to Mercer’s clients in the UK.

Benoit Hudon, Mercer’s UK President and CEO, said: "This is an important milestone on Mercer’s strategic path and will allow us to have a greater role in filling the savings gaps in the UK. With the addition of Cardano’s talent and capabilities, we will have one of the broadest pension and investment offerings in the UK marketplace."

Michaël De Lathauwer, Cardano Group’s CEO, said: "Getting to know Mercer throughout this process has reinforced my view that we are stronger together. I am excited for our future and serving clients with our enhanced investment, advisory and DC capabilities so that they can better navigate today’s complex financial markets."

As part of the transaction, more than 550 Cardano colleagues in London, Nottingham and Rotterdam will join Mercer.

About Mercer

Mercer, a business of Marsh McLennan (NYSE: MMC), is a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $23 billion and more than 85,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit mercer.com, or follow on LinkedIn and X.

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Contacts

Media:
Tim Matthews
Mercer
+44 (0)7793088741
tim.matthews@mmc.com