The man responsible for Mercer’s $17 billion multimanager business in Australia has been restructured out of the firm.
After more than six years running Mercer’s investment management capability in Australia and New Zealand, Gary Burke left the Sydney office on February 3.
His role will not be replaced, instead it will be subsumed into the responsibilities of Stephen Roberts, the former Russell institutional business head who became Mercer’s investment management business leader for the Asia-Pacific last March.
Roberts is nominally based in Sydney, although spends the majority of his time travelling, and indeed was in Singapore and unavailable for comment yesterday.
A Mercer spokesperson said no other roles would change, including that of chief investment offcer, Russell Clarke.
A statement from Mercer makes clear its intention for a single, integrated investment management business in the Asia-Pacific.
“This will take us from a market-based structure to a regional focus that is more aligned with how the rest of the Investment Management business operates worldwide,” the statement said.
Burke, a father of six, has had 20-plus years in the funds management industry including periods as CIO at both Zurich Scudder and Deutsche Funds Management, and earlier experience at Rothschild as head of portfolio management.
