Mercer is restructuring the leadership of its investments and retirement group.
Richard Nuzum was named the executive director of investments and global chief investment strategist at Mercer, a newly created role, the company announced Thursday. Mercer is Marsh & McLennan Cos.' global consulting business.
Mick Dempsey was named president of the investments and retirement group, the position Mr. Nuzum previously held, and will join Mercer's executive leadership team.
Christine Mahoney, the U.S. investments and retirement leader, was named the global defined benefit and defined contribution leader, also a new position. She will report to Mr. Dempsey. A search is underway to find a new U.S. investments and retirement leader. In the meantime, Ms. Mahoney will hold both positions, a spokesman said.
The new positions and shuffling of personnel will help the company be innovative in an "increasingly dynamic investments market" and support its clients, some of the largest retirement plans, Mercer said in a statement.
"These leaders have the vision and experience needed to both advise our clients in an ever-changing market and drive Mercer's growth agenda," said Martine Ferland, Mercer president and CEO, in the statement.
The leaders switching jobs have worked at Mercer for decades.
Mr. Nuzum has held various roles at Mercer for 30 years. Mr. Dempsey joined Mercer in 1999 and was most recently the firm's global leader of investment solutions and outsourced chief investment officer. Ms. Mahoney has been with the firm for 32 years.
Mercer has $380 billion in assets under management and $15 trillion under advisement. The firm, which has 25,000 employees across 43 countries, provides its clients with research, tools, consulting and helps them build portfolios. Marsh McLennan has 83,000 employees.
