Marsh McLennan's Mercer To Buy Cardano For Undisclosed Terms

(RTTNews) - Professional services firm Marsh & McLennan Companies Inc (MMC) announced Tuesday that its affiliated business Mercer reached an agreement to acquire Cardano, a privately-owned investment management and advisory business. The terms of the deal were not disclosed.

The transaction is expected to close near the end of 2024, subject to regulatory approvals.

Following the deal closure, around 550 Cardano colleagues in London, Nottingham and Rotterdam will join Mercer.

Cardano offers a range of fiduciary management, investment advisory services, and liability-driven investing and derivatives solutions in the UK and the Netherlands.

Benoit Hudon, Mercer's UK President and CEO, said, "Our combined talent and capabilities will position Mercer as the pension provider of choice in the UK and the Netherlands. This will allow us to continue to expand globally beyond pensions to serve other large asset owners, including endowments and foundations, family offices and insurers."