Mercer’s DC global leader Troy Saharic stands down
Troy Saharic has announced he will step down as the leader of Mercer’s Defined Contribution and master trusts segment. He will now “pursue other opportunities,” having spent the last quarter-century with the firm.
Britain’s pensions market stands at a key cross-roads in 2020. Almost three-quarters of UK defined benefit plans are cash-flow negative, placing them in a precarious position amid a volatile geo-political and economic environment. Many in the sector are turning to sustainability and diversification drives to shield assets from the increasingly unpredictable market. Amid this, the UK pensions consulting market is also undergoing key changes.
Britain’s pensions and actuarial consulting industry currently commands combined revenues of around £2.5 billion, with that number likely to rise further in the near future as funds look to consultants for ways to diversify their investments. The dominant three firms in the UK pension consulting arena bring in over half of that figure; and first among them is Mercer. Following its landmark purchase of competitor JLT, it last posted a revenue of £513.9 million.
Mercer is set to undergo a series of changes in its DC wing however. As the firm prepares for a busy 2020, the firm’s global segment leader for DC and master trusts has stepped down. Troy Saharic, who was also the firm’s Senior Partner for Mercer Wealth, has stepped down to “pursue other opportunities.”
Saharic has worked at Mercer for 25 years in a number of senior roles including as Partner, Senior Partner, Investment Consultant, and Principal. Prior to joining Mercer in 1994, he was an analyst at Foster Higgins & Company, which is now also part of Marsh & McLennan.
Speaking of his departure in a LinkedIn post, Saharic said, “[I am] so grateful and honoured to have worked with some amazing colleagues, fantastic clients and remarkable industry peers over the years. The investment management business is transforming rapidly. Super excited for the future and the road ahead.”
The news follows similar news at Hymans Robertson, which named a new Head of DC Investment. Operating from London, William Chan has been promoted to the role after five years at the firm, where he has most recently led on DC research.
