Mercer hires two to bolster DC plan outsourcing

Mercer LLC of New York announced today that it has hired two market leaders for its defined contribution plan administration-outsourcing service.

Sharan Mitchell Carlisle will serve as market leader for the Great Lakes region, and Steve Gordon will lead the Southeast regional market, effective immediately.

Both Ms. Carlisle and Mr. Gordon most recently held senior positions at Wachovia Retirement Services of Charlotte, N.C., a subsidiary of Wells Fargo & Co. of San Francisco.

The expansion of sales personnel is part of the Mercer’s strategic initiative to expand its benefits-outsourcing business, said Mercer spokesman Bruce Lee.

These additional positions will help support the broadening of the firm’s total benefits-outsourcing program, which bundles defined contribution, defined benefit, health and benefits administration into one client relationship, the firm said in its statement.

In addition, Mercer, a unit of Marsh & McLennan Cos. of New York, last week hired a six-member team to support its effort to offer its defined contribution plan administration to plan sponsors with 500 or more employees.

In March, Mercer launched an initiative to expand into the midmarket sector by offering its services directly to financial advisers, after ending an exclusive relationship with Putnam Investments of Boston.

The team, which includes sales leaders and business strategists, will report to Kerry Sain, North American sales leader for Mercer’s outsourcing business.

Mercer’s defined contribution business has 600 plan sponsors with 1.3 million participants and $45 billion in assets under management.

Mercer offers consulting, outsourcing, administration, record-keeping and education on a range of benefits, including health, retirement and other benefits.