US-based consulting firm Mercer has hired Richard Tan as portfolio specialist for Asia, a newly-created position in which he will lead portfolio construction in public and private markets.
According to Mercer Asia’s Chief Executive Officer Renée McGowan, Mr. Tan’s appointment bolsters the company's ability “to lead and influence the development of new investment portfolios for increasingly diverse markets".
"He will lead our clients' portfolio construction across asset classes and public and private markets," Ms. McGowan says in a statement on May 29.
She adds that Mercer is becoming increasingly recognised for investment management and manager selection, and has seen “significant growth in our delegated asset management business, implementing investments for clients via our multi-manager fund offering".
A Mercer spokesperson tells Asia Asset Management that Mr. Tan, who is based in Hong Kong, will report to Janet Li, Mercer Asia’s wealth business leader.
Mr. Tan joins the consulting firm from rival Willis Towers Watson, where he worked in various senior roles, including head of private markets and head of research for Asia. Prior to that, he was co-founder and investment director of private equity fund Squadron Capital.
Ms. Li, who was also a former senior official at Willis Towers Watson, says she is “thrilled” Mr. Tan has joined Mercer. She says clients have become more sophisticated as the investment environment and products become more complex.
“Finding the right talent is key for us to continue adding value to clients and staying ahead of the curve,” Ms. Li says in the statement. “Richard’s expertise further boosts the capabilities of the wealth team in the region to deliver even better outcomes for our clients.”
Mercer had approximately US$242 billion of assets under delegated management globally as at June 30, 2018, and more than $11 trillion of assets under advisement.