Mercer (consulting firm)
|Headquarters||New York City, United States|
Number of locations
|180 cities in 40 countries|
|Julio Portalatin (Chairman and CEO)|
|Products||Human resource consulting services, including retirement, health & benefits, human capital, surveys & products, communication, investments, outsourcing, and mergers & acquisitions|
Number of employees
|Parent||Marsh & McLennan Companies|
Mercer is an American global human resource and related financial services consulting firm, headquartered in New York City. Mercer is based in more than 40 countries, and operating internationally in more than 130 countries with more than 20,500 employees. Mercer is a subsidiary of Marsh & McLennan Companies.
Started in the United States in 1937 as the employee benefits department of Marsh & McLennan, Inc., the company took the name of “William M. Mercer” in 1959, when Marsh & McLennan acquired William M. Mercer Limited, a Canadian firm founded by William Manson Mercer in Vancouver in 1945. In 1975, Mercer became a wholly owned subsidiary of Marsh & McLennan Companies, Inc. In 2002, its name was changed to Mercer Human Resource Consulting. In 2004, the company acquired Synhrgy HR Technologies. In 2007, the company became simply "Mercer."
In 2004, Mercer admitted giving the NYSE board a compensation report that contained "omissions and inaccuracies" that led to a $139.5 million pay package for former NYSE Chairman Richard Grasso. Mercer had been brought in to advise the stock exchange on Grasso's 2003 contract and his request for $139.5 million. The consultancy returned $440,000 in fees it collected from the NYSE and provided key documents in the lawsuit.