BT Private Portfolio Management to move to Mercer
The transfer of BT businesses to Mercer has taken another step, with BT Private Portfolio Management moving across.
The move is expected to be completed in the fourth quarter of this year.
Mercer announced today that agreement had been reached with Westpac to transition BT’s Private Portfolio Management business to Mercer – something which followed on from Mercer’s acquisition of Advance Asset Management and the transfer of BT Super to the Mercer Super Trust.
Commenting on the move, Mercer Investments leader in the Pacific region, Simon Eagleton welcomed the BT Private Portfolio Management clients to Mercer.
“PPM is a strong business with a unique proposition, providing natural synergies with Mercer’s current investment services,” he said.
“Mercer is a well-established multi-manager in Australia, with a long history serving the needs of large endowments and foundations, and more recently individuals intermediated by financial advisers. The addition of PPM allows us to service the entire investor market – from our Mercer Super Trust members through to private clients and family offices – and support even more investors in achieving their wealth objectives,” Eagleton said.
What a load of crap Mercer is run like an Industry Fund with No Advisers !!!!