Mercer eyes India
23/06/2008
Mercer, one of the world’s largest pension and investment consultants, is to roll out a wealth manager advisory service in India.
European and US private banks generally avoid using investment consultants, confident of their own abilities to find good investments for their clients. But Mercer reckons it has an opportunity to get in on the ground floor in Asia.
Mercer reckons it has an opportunity to make use of its investment skills and manager research base, originally developed to serve institutional clients across Europe, North America and Australia.
The mainstay of its client base is defined benefit pension schemes, generally viewed as a mature business and set to diminish slowly over time.
India has many multi-millionaires, but providing advice to affluent members of the middle class is in its infancy.
Mercer believes it has seen an opportunity to sell its services to India’s growing number of private banks.
