Corporate Adviser
  • Content Hubs
  • Magazine
  • Alerts
  • Events
  • Video
    • Master Trust Conference 2024 videos
  • Research & Guides
  • About
  • Contact
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG
No Result
View All Result
Corporate Adviser
No Result
View All Result

Mercer offloads pensions admin business to PE-backed MBO

by John Greenwood
June 30, 2023
Bala Viswanathan, JLT

Bala Viswanathan, JLT

Share on FacebookShare on TwitterShare on LinkedInShare on Pinterest

Mercer is offloading its UK pensions and US health and benefits administration businesses to a new entity called Aptia, funded by global private equity house Bain Capital.
The new entity will manage benefits for over 5 million people across more than 1,100 companies, delivering employee benefits in the US and pensions administration in the UK.
The company will be led by a management team that includes Bala Viswanathan, CEO, and Dominic Burke, chairman, both of whom have worked at both Jardine Lloyd Thompson (JLT) and Marsh McLennan.
Burke was the group CEO of JLT from 2005 to 2019, and then served as a vice chairman of Marsh McLennan. During his leadership tenure at JLT, he drove the business from an enterprise value of £450m to £5bn.
Viswanathan took over the reins at JLT UK Employee Benefits at the end of 2015, succeeding Duncan Howarth. He became COO of Mercer in 2018.
The transaction is expected to be concluded towards the end of 2023.
Viswanathan said: “”Aptia will focus exclusively on employee benefits administration and specialist pension administration delivered by experts and enabled by technology. In partnership with Bain Capital, we will seek to create a genuinely differentiated and highly responsive client experience that will resonate strongly in the marketplace.”
Burke said: “Digital enablement is underpenetrated in these sectors. We see a clear opportunity to empower our people by continuously investing in the leading technologies they need to efficiently deliver specialized client solutions. We will also prioritize our people from day one by establishing a supportive learning culture that offers the foundation for growth and development both in and outside of the workplace.”

VIDEO FROM ROYAL LONDON


Find out more about how to support the switching of a workplace pension

Corporate Adviser Special Report

REQUEST YOUR COPY

Most Popular

  • Family - thumbnail

    Standard Life launches financial coaching platform for families

  • TPT launches managed retirement income for life offering

  • Govt Spending Review: industry reaction

  • TPR urges trustees and advisers to “raise their game”

  • Half of UK companies see employee benefit costs as primary financial challenge

  • Capital Cranfield appoints LGIM DB head as trustee

Corporate Adviser

© 2017-2024 Definite Article Media Limited. Design by 71 Media Limited.

  • About
  • Advertise
  • Privacy policy
  • T&Cs
  • Contact

Follow Us

X
No Result
View All Result
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG

No Result
View All Result
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.