Phil de Cristo is to join Mercer Human Resource Consulting in the newly created position of President of Mercer Global Investments (MGI).
MGI is a new business unit that specializes in multi-manager investing.
De Cristo, 45, who will take up his new position on 3 January 2006, joins Mercer Global Investments from Fidelity Investments, where he was most recently the Managing Director of Pensions Management for European DC (defined contribution) plans. Since joining Fidelity in 1987, de Cristo's career experience has spanned distribution, operations, global product development, and retail mutual funds. His international experience encompasses assignments in Fidelity's UK, Luxembourg and Bermuda offices, as well as assignments in Fidelity's Boston headquarters. De Cristo received a BS degree from Boston College and an MBA from Babson College.
"Phil's broad-ranging, international investment background is an excellent match for Mercer Global Investments' growth and leadership goals," says Michael Caulfield, President of Mercer Human Resource Consulting. "The global multi-manager market is expanding dramatically, and Mercer is already a major player. Among global multi-managers, MGI stands apart in the high level of research and service it offers, as well as its retirement plan expertise. By adding a leader of Phil's experience and reputation, we are building upon our strong team and signalling a commitment to this market and to a significant global expansion of our business in 2006."
Mercer Global Investments' worldwide assets under management exceeded USD 8.25 billion as of September 30, 2005, up from USD 6 billion at year-end 2004. MGI professionals are based in the US and Australia, with plans underway to expand into Asia, Canada and Europe in 2006. MGI, through its affiliation with Mercer Investment Consulting, has access to over 30 years of institutional experience researching and recommending money managers, and benefits from the expertise of more than 40 full-time professionals whose job it is to track and rate money managers on a daily basis.
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