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
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
