New chief at William M Mercer

Simon O’Regan has been named as the replacement for William M Mercer chief executive Bruce Cook who vacates the top job after more than 16 years.

Simon O'Regan is currently executive director but will take over from Cook on January 1 next year, looking after the Australian and New Zealand businesses.

Cook will continue as non-executive chairman for at least six months next year, to ensure a smooth transition.

"After 35 years as a chief executive, I want to finish my career ensuring a successful transition and the value of the business maintained," Cook says.

"Simon will be the chief executive but I will be there to act as a sounding board, letting him get the benefit of my experience."

On retirement, Cook says he is looking forward to controlling his own time and heading off for some adventure travel with his wife.

An actuary by background, Cook founded consulting actuary firm Campbell & Cook in 1965, and in 1984, sold the Melbourne branch to Mercer, becoming chairman and chief executive of Mercer Australia.

During his 16 and a half year tenure as chief executive, Cook has seen the financial planning arm grow from 25 planners with the acquisition of Owen Weeks business eight years ago, to 150 planners today.

O'Regan spent six years as a pensions actuary for Legal & General before joining William M Mercer in the UK in 1988. He moved to Australia a year later and was a superannuation actuary until 1996, the last three years as head of Mercer's Melbourne office.

He then spent three years working at Vangaurd Investments Australia before rejoining Mercer as executive director in 1999.

Both Cook and O'Regan will continue to report to Mercer global chairman Peter Felton in London.