Mercer (consulting firm)
From Wikipedia, the free encyclopedia
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| Type | Subsidiary of Marsh & McLennan; LLC |
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| Founded | 1975 |
| Headquarters | New York City, New York 150 offices in 42 countries |
| Key people | M. Michele Burns, Chairman & CEO |
| Industry | Human resource consulting Financial services |
| Products | Human resource consulting services, including retirement, health & benefits, human capital, surveys & products, communication, investments, outsourcing, and mergers & acquisitions |
| Revenue | US$ 2.7 billion in 2006 |
| Employees | 18,000 worldwide (2009) |
| Website | www.mercer.com |
Mercer is a human resource and related financial services consulting firm, headquartered in New York City. The firm operates internationally in more than 40 countries, with about 18,000 employees,[1] and is the world's largest human resource consulting firm.[2]
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[edit] History
Started in the United States in 1937 as the employee benefits department of Marsh & McLennan, Inc., the company took the name of “William M. Mercer” in 1959, when Marsh & McLennan acquired William M. Mercer Limited, a Canadian firm founded by William Manson Mercer in 1945. In 1975, Mercer became a wholly-owned subsidiary of Marsh & McLennan Companies, Inc. In 2002, its name was changed to Mercer Human Resource Consulting. In 2004, the company acquired Synhrgy HR Technologies.[3] Recently in 2007, the company became simply "Mercer."[4] Currently, Mercer is the world's largest human resource consulting firm.[5]
[edit] Awards
It has been ranked by Vault.com, Inc. as the #1 human resource consultancy for several years running, including most recently in 2008.[6] Among all consulting firms, Mercer is currently ranked #6 for prestige.[7]
[edit] Competitors
Mercer's major competitors include Watson Wyatt Worldwide, Buck Consultants, Hewitt Associates, Towers Perrin, and Hay Group.
[edit] Stock Exchange Scandal
In 2004, Mercer admitted giving the NYSE board a compensation report that contained "omissions and inaccuracies" that led to a $139.5 million pay package for former NYSE Chairman Richard Grasso. Mercer had been brought in to advise the stock exchange on Grasso's 2003 contract and his request for $139.5 million. The consultancy, however, assuaged the matter, giving back $440,000 in fees it collected from the NYSE and providing key documents in the lawsuit.[8]
[edit] References
- ^ Official site—About
- ^ Mercer: Consulting. Outsourcing. Investments
- ^ HRO Today News: January 6, 2004 - Mercer Human Resource Consulting and Synhrgy HR Technologies agree to join forces
- ^ Mercer looks to drive growth with new brand
- ^ Mercer: Consulting. Outsourcing. Investments
- ^ Mercer Jobs & Careers: Vault Employer Profile
- ^ Consulting Firm Rankings: Vault Top 50 Management & Strategy Consulting Firms
- ^ HR Figures Prominently in Stock Exchange Scandal
