Mercer Embarks New Leadership08.23.2011
Mercer, the global consultant for pensions, endowments and foundations, announced last week that Tom Murphy will head U.S. investment management. Murphy will be based in Boston, and report to Rich Nuzum, president and global business leader of Mercer’s Investment Management business.
Murphy has spent the past five years as Mercer’s head of investment management in the firm’s Europe, Middle East and Africa (EMEA) region. Murphy was responsible for growth of Mercer’s presence in this region.
Murphy also helped launch the global push for Mercer’s “Dynamic De-Risking Solution,” an initiative that seeks to help pensions maintain funded statuses by gradually disposing of riskier investments out of their asset allocation model and designing a game plan for long-term funding.
The “Dynamic De-Risking Solution” will include pinpointing a client’s investing time horizon, risk appetite and incorporate downside protection.
Prior to Murphy’s new post, Ken Crotty served as both head of investment management in the U.S. and global chief operating officer (COO) for Mercer’s investment businesses, since 2008. Crotty will continue as COO, and his duties also will largely focus on the firm’s “Dynamic De-Risking Solution.”
“I would like to both welcome Tom to his new position and thank Ken for his outstanding leadership of the U.S. region over the past three years,” said Nuzum in a statement. “Tom’s strong track record of success in EMEA gives me the utmost confidence in a seamless leadership transition as we continue to grow and serve our client base throughout the U.S. region with innovative solutions. Having Ken focus full time on his global COO responsibilities will only help further fuel the rapid expansion worldwide of Mercer’s Investment businesses.”
Neither Murphy nor Crotty could be reached for comment by press time on this story.