The terms of the transaction were not disclosed. The deal is expected to close in the second quarter of 2025, pending regulatory approvals and client consent.
Under the agreement, SECOR’s more than 40 employees in New York and London will join Mercer once the transaction is completed.
Founded in 2010 by Tony Kao, Ray Iwanowski and partners, SECOR provides investment advisory, fiduciary management and asset liability management services to institutional investors, including pension funds, insurance companies, endowments and family officers.
As of Sept 30, 2024, SECOR has $13.8 billion in assets under advisement and $21.5 billion in assets under management.
“SECOR’s exceptional team is highly regarded in the industry for their extensive experience working with in-house investment teams and proven expertise in specialized investment implementation,” said Michael Dempsey, Mercer’s wealth president. “We are thrilled at the opportunity to welcome this talented group and to continue developing a comprehensive and agile suite of solutions designed for the distinct needs of institutional investors.”
Meanwhile, Tony Kao, SECOR’s managing principal and chief investment officer, expressed his excitement over the merger, adding that Merce’s global resources will benefit the company. “Having served as both an in-house Chief Investment Officer and a partner to clients, I believe that Mercer is the ideal steward for our business’s future,” he said.
