September 25, 2015 – New York – Mercer has entered into a strategic alliance with Transamerica whereby Transamerica will acquire Mercer’s US defined contribution (DC) administration book of business. Transamerica will also become Mercer’s preferred DC record keeping provider. The transaction is expected to close by the end of 2015.
“We are excited about this alliance with Transamerica as both firms share a deep passion for service excellence and value delivery,” said Ken Haderer, Mercer’s Chief Operating Officer. “After the transaction is complete later this year, we will partner with Transamerica for our defined contribution recordkeeping administration business. We also want to clearly state that we are committed to continuing to provide best of class service to our defined benefit and health clients through our own solutions.”
Mercer’s US DC retirement administration business has more than US$71 billion in plan assets, 148 clients and more than 917,000 participants.
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