Veteran Mercer NZ chief, Martin Lewington, is to leave the multi-manager and consulting business next month after almost 20 years with the firm including 16 in the top job.
In a LinkedIn post Lewington said he would “hang up my boots” on June 27.
Mercer reported about $11.4 billion of retail assets under management at the end of last year, according to Plan for Life figures, in a product suite that includes a $2.7 billion plus KiwiSaver scheme and diverse set of other funds.
The manager famously picked up the NZ Macquarie Asset Management funds in 2022 – comprising the rump AMP Capital NZ business – in a cost-free deal that added almost $3 billion to the Mercer pool.
But Mercer, part of the giant US-listed Marsh McLennan professional services firm, also serves as underlying manager and/or investment consultant for many wholesale entities such as superannuation funds, charities and community trusts.
Lewington told LinkedIn the NZ firm “embodied” the Marsh McLennan business philosophy of pursuing ‘The Greater Good’.
“What we do is meaningful, and I’m proud of the impact we’ve made in the business community,” he said.
“Some might think that Mercer has always been this size, but the truth is, like life, our growth has been gradual and steady. When I joined in 2006, it was part-time with just three major clients and now look at us – we’re a leader in asset management in New Zealand.”
Mercer has “commenced a recruitment process” to replace Lewington, a spokesperson for the group said.