Mercer - Consulting (Human Resources, Other)

212-345-7000.
1166 Avenue of the Americas
New York, NY 10036 
www.mercer.com 

Sales

$2.7 billion

Human Resources Consulting - Category Directory

Business Description

Through Mercer Inc., subsidiaries and affiliates of MMC,
separately and in collaboration, provide consulting and related services from
locations around the world, primarily to business organizations, in the areas
of:

o Retirement Services including retirement consulting, administration
and investment consulting;

o Health Care & Group Benefits consulting;

o Human Capital consulting including performance, measurement and
rewards, communication and HR technology & operations consulting;

o Management and Organizational Change consulting comprising strategy,
operations, organizational change, leadership and organizational
design; and

o Economic consulting.

Mercer Human Resource Consulting provides professional advice and
services to corporate, government and institutional clients in more than 40
countries and territories in North and South America, Europe, Asia, Australia
and New Zealand. Consultants help organizations understand, develop, execute and
measure retirement, health care and group benefits and human capital programs,
policies and strategies. Under the Mercer Investment Consulting name, the firm
assists trustees of pension funds and others in the selection of investment
managers and investment strategies. Mercer Investment Consulting also advises
investment managers on product design and positioning. In certain locations
outside of the United States, Mercer Human Resource Consulting advises
individuals in the investment and disposition of lump sum retirement benefits
and other retirement savings and offers a retirement trust service,
incorporating plan administration, trustee services and investment manager
selection. As of



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December 31, 2003, retirement plan assets invested through the firm's Australian
retirement trust totaled $4.8 billion, representing the interests of about
110,000 participants. Mercer Human Resource Consulting also has a benefits
administration practice. In the U.S., Mercer Human Resource Consulting also
operates an NASD registered broker dealer in connection with its investment
consulting business to assist investment consulting clients in asset transitions
when a new investment manager is selected.

Mercer Management Consulting provides advice and assistance on issues
of business strategy and operational execution, primarily to large corporations
in North America, Europe and Asia. Consultants help clients anticipate and
realize future sources of value growth based on insights into rapidly changing
customer priorities, economics and markets. Mercer Management Consulting also
assists its clients in the implementation of their strategies. In April 2003,
Mercer Management Consulting merged its financial services strategy and risk and
actuarial consulting units with Oliver, Wyman & Company to form Mercer Oliver
Wyman. Under the Mercer Oliver Wyman name, Mercer Management Consulting provides
risk and strategy consulting, primarily to financial services clients, as well
as actuarial consulting services to insurance companies, government entities and
other organizations. Under the Lippincott Mercer name, Mercer Management
Consulting advises leading corporations on issues relating to brand, corporate
identity and image.

Mercer Delta Organizational Consulting, with offices in North America,
Canada and Europe, works with senior executives and chief executive officers of
major corporations and other institutions on organizational design and
leadership of organizational change.

National Economic Research Associates ("NERA") serves law firms,
corporations, trade associations and governmental agencies, from offices in the
United States, Europe, Asia and Australia. NERA provides research and analysis
of economic and financial issues arising in competition, regulation, finance,
public policy, litigation and management. NERA's auction practice advises
clients on the structuring and operation of large scale auctions, such as
telecommunications spectrum auctions. NERA also advises on transfer pricing.

COMPENSATION FOR SERVICES. The major component of Mercer's revenue is
fees paid by clients for advice and services. In addition, commission revenue is
received from insurance companies for the placement of individual and group
insurance contracts, primarily life, health and accident coverages. The
investment consulting practice primarily receives compensation based on fees for
service and sometimes is compensated based on assets under management. A
relatively small amount of revenue is derived from brokerage commissions in
connection with a registered securities broker dealer.

Revenue in the consulting business is affected by, among other things,
economic conditions around the world, including changes in clients' industries
and markets. Furthermore, revenue is subject to the introduction of new products
and services, broad trends in employee demographics, the effect of government
policies and regulations, market valuations, and interest and foreign exchange
rate fluctuations.