Mercer has announced the appointment of Philip Parkinson as its new Investments and Retirement Leader in the UK, effective from 1 January 2023, subject to FCA approval. Mr Parkinson joins Mercer’s UK leadership team and will oversee Mercer UK’s Investments and Retirement business strategy across defined benefit (DB) pensions, defined contribution (DC) pensions, and other growing segments such as Financial Institutions and Endowments and Foundations. Mr Parkinson takes over from Benoit Hudon, who will concentrate on his role as President and CEO of Mercer UK.
Mr Hudon said, “Phil brings a great depth of expertise at an important time for our business and for the industry at large. This is a crucial time for the balance of DB and DC pensions, where all of our clients will be looking to us to help them navigate the challenging economic environment, while they maximise the outcomes for their stakeholders. Phil’s mixed DB, DC, consulting and product knowledge will further expand our team’s capabilities and will help our clients navigate these issues.
“I am confident that under Phil’s leadership, the team will build on its purpose to make a difference in people’s lives, which we do through the delivery of high-quality tools, advice and solutions.”
Mr Parkinson has held various roles at Mercer, in the UK and abroad, most recently leading the DC segment of Mercer’s UK Wealth business, including both consulting and product solutions.
Commenting on his appointment, Mr Parkinson said, “This is an exciting next step in Mercer’s journey and I am honoured to receive the Investments and Retirement leadership baton from Benoit.
“I believe Mercer’s Wealth business has even more potential to unlock and I look forward to working with the team to advance our services to clients, providing the tools, advice and solutions they need through this challenging time.
“Now more than ever, we need to embody our purpose of making a difference to the people we serve.”
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