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Mercer and Vanguard introduced this week that the previous is shopping for the latter’s outsourced chief funding officer enterprise, which supplies funding administration providers for not-for-profit organizations and different institutional buyers in the USA.
As a part of the settlement, Vanguard’s roughly 120-person outsourced CIO crew is anticipated to switch to Mercer as full-time staff, upon completion of the transaction, which is anticipated to be within the first quarter of 2024.
In an announcement, Marc Cordover, Mercer’s U.S. investments and retirement head, says the acquisition of Vanguard’s outsourced CIO unit will bolster its present outsourced funding administration and alternate options capabilities.
As Cordover notes, institutional buyers and not-for-profit organizations proceed to face a variety of challenges, and there may be growing demand for world funding experience to remain forward of the curve.
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