Mercer names Dave Tolve Retirement Business Leader for its US outsourcing business

Norwood, MA, December 21, 2009

Mercer, a leading global provider of benefits outsourcing, announced today that it has named Dave Tolve as Retirement Business Leader for its US outsourcing business, effective January 11, 2010. In this role, Mr. Tolve will be responsible for the strategic direction, growth, and overall success of Mercer’s defined contribution administration, defined benefit administration, and total retirement outsourcing (TRO) lines of business. He will report to Michael Sternklar, COO and Head of the Americas for Mercer’s outsourcing business, and will be based in Norwood, MA.

“Dave brings more than 20 years of experience and expertise in the retirement services industry to Mercer,” noted Mr. Sternklar.  “Dave’s extensive background will be a tremendous asset to Mercer and his leadership will be a key component in meeting the needs of clients as the retirement industry evolves and grows.”  

Mr. Sternklar also noted that the hiring of Mr. Tolve represents Mercer’s continued focus on hiring industry-leading talent to meet the needs of its growing benefits outsourcing business.  

Mr. Tolve joins Mercer from ING, where he most recently served as the Head of eCommerce and Program Management responsible for ING’s customer-facing technology strategy.  He was previously Executive Vice President of Product Development and International Operations at CitiStreet.  In this role he led the design and delivery of all new retirement products and services, as well as the integration of Retirement and Health / HR services for the eCommerce business.  In his 16 years at ING, he also held senior level positions in implementation services, operations and client relationship management. Prior to ING / CitiStreet, Mr. Tolve worked for Bankers Trust Company.

Mr. Tolve holds a Bachelors degree in Finance and Economics from Iona College.

Sandy McCarthy, who previously led Mercer's US outsourcing retirement business, will take on a new role within Mercer as Asia Pacific Business Leader for its outsourcing business, effective February 1, 2010. She will be based in Melbourne, Australia and will report to Jeff Miller, President of Mercer’s global outsourcing business. “We are excited that a leader of Sandy’s caliber and expertise will be bringing her depth of experience to our Asia Pacific business,” said Mr. Miller. “Sandy’s new role is a great opportunity for her both professionally and personally and serves as a testament to Mercer’s ability to attract and develop top industry talent.”

About Mercer
Mercer is a leading global provider of consulting, outsourcing, and investment services. Mercer works with clients to solve their most complex benefit and human capital issues, designing and helping manage health, retirement, and other benefits. It is a leader in benefits outsourcing. Mercer’s investment services include investment consulting and multi-manager investment management. Mercer’s 18,000 employees are based in more than 40 countries. The company is a wholly owned subsidiary of Marsh & McLennan Companies, Inc., which lists its stock (ticker symbol: MMC) on the New York, Chicago, and London stock exchanges. For more information, visit www.mercer.com.

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