Mercer ousts Towers Perrin to become GSO actuary
Zilla Efrat
Mercer has been appointed as the actuary of the $6 billion Government Superannuation Office (GSO), replacing Towers Perrin which had been the incumbent actuary for the past 12 years.
GSO CEO Peter Blight says the appointment follows a public tender, which Mercer won because of its ability to deliver actuarial services to GSO and because of the costs it charges for these services.
As part of the contract, Mercer’s Carl Stevenson becomes the official actuary of GSO, which has around 142,000 members.
The appointment, Blight adds, in no way passes judgement on Towers Perrin. “We were happy with its service,” he says.
Mercer takes over the actuarial reins of GSO on June 1, 2003.
AUTHOR
Mike Taylor
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
