Mercer announces senior leadership appointments from JLT in the UK

Mercer has announced a quartet of senior leadership appointments from JLT in the UK. The move follows Mercer’s purchase of the UK insurance broker to create the largest pensions consultancy in the country.

Marsh & McLennan Companies sealed a £4.3 billion takeover of UK insurance broker Jardine Lloyd Thompson (JLT) in September 2018. The move saw Marsh & McLennan, which holds market capital of £31 billion and owns consultancy giant Mercer, retain JLT's existing commitments to its defined benefit schemes, including planned deficit recovery contributions and contractually-required contributions. The resulting merger of Mercer and JLT’s Employee Benefits division has forged the largest pensions consulting business in the UK by turnover.

As part of that move, Mercer has confirmed a series of new leadership appointments related to the JLT acquisition. This includes a trio of additions to the existing UK Wealth Leadership Team, led by recent appointee Benoit Hudon, and a single appointment to Mercer’s UK Technology wing.

Karen Phillips will become Head of Mercer’s UK Financial Planning business, focusing on growing the combined financial planning businesses to meet ever increasing needs for financial advice. Prior to her nine years with JLT Wealth Management, where she was most recently Chief Executive Officer, Phillips spent four years with iimia Financial Planning, where she held the same role.

Malcolm Reynolds, Managing Director of JLT UK Employee Benefits Services, will become Client Leader for Mercer’s UK Administration Services and will work alongside Rich Tuff, UK & Ireland Administration Leader, to combine the two administration capabilities. Before joining JLT in 2002, Reynolds spent 13 years with PwC, becoming a Director at the Big Four firm before his exit for new pastures.

Steven Robinson, who is also PwC alumni having spent 6 years with the firm, has been with JLT for the last 18 years, and was most recently made Managing Director of its Trustee and Corporate Consulting wing. He will now lead the Mid-Market Segment for Mercer’s UK Wealth business as well as being responsible for developing the overall offering, including insured defined benefit arrangements, for the combined organisation in the UK.

Teresa Beach, meanwhile, will join Mercer’s UK Technology arm. A former PA Consulting Partner, Beach was most recently Managing Director of JLT Technology Solutions. When the two firms agreed to merge, she became a member of the Mercer/JLT integration team, and will continue to lead the UK Technology Solutions reporting to Bala Viswanathan, who will become Mercer’s Chief Operating Officer once the deal obtains regulatory clearance.

David Anderson, President, International at Mercer, said of the new appointments, “These new leaders will bring considerable knowledge and experience of the JLT business, its clients and people, to our already strong leadership teams. Together they will be core to ensuring the successful integration of our combined businesses. Pending the outcome of the regulatory process, we look forward to welcoming our new colleagues to the Mercer team.”

The appointments span the UK and the continent, with a single appointment in Mercer’s Delegated Solutions wing in Europe. Mark McNulty, Managing Director of Investment Solutions at JLT, will take on the role of European Head of Clients for Mercer’s Delegated Solutions business.