Mercer Investment Consulting has completed its acquisition of US consultancy Hammond Associates, in an effort to increase its US market share.
Hammond Associates is the third largest investment consulting firms servicing endowments and foundations in the US.
This is an attractive market segment, considering that, according to consultants Greenwich Associates, between 2005 and 2009, endowment and foundation funds using investment consulting services grew at a compound rate of 10% per year.
Jeff Schutes, Mercer’s US investment consulting leader, said: "This acquisition underscores Mercer’s commitment to our investment business and our determination to increase our US market share. Mercer is growing at a time when clients are demanding greater resources and depth of expertise from their investment consultants."
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