US-based consulting firm Mercer has hired Harold Tan for the newly created position of wealth business leader for the Philippines in a move to grow its wealth business in the Southeast Asian nation.
He is based in Manila and reports to Janet Li, Mercer Asia’s wealth business leader.
Mr. Tan joins the consultancy from Maybank Philippines, where he was vice president and head of premier wealth. He had also worked at Standard Chartered Bank in the Philippines in a number of roles, including head of investment strategy and advisory, and head of wealth advisory and wealth management treasury sales.
“Harold’s extensive experience in the wealth and banking sectors boosts the expertise and leadership of Mercer Philippines and further enhances its capabilities to proactively grow its local wealth business,” Mercer Philippines Chief Executive Officer Teng Alday says in a statement on June 4.
According to Ms. Li, the wealth business is "thriving" in Asia as an increasingly complex investment environment and issues arising from ageing populations drive demand from clients who need support for their investment and retirement needs.
"Investment capability, access to an implementation platform and talent are all key attributes to help navigate this challenging investment landscape,” Ms. Li says in the statement. “We are delighted to have Harold joining us to lead the delivery of our wealth capabilities to local clients in the Philippines."
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.