Key Mercer exec retires

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Mercer’s head of Asia Pacific, Peter Promnitz, will retire from his role at the end of the year and take up a role as an independent non-executive director.

“Peter Promnitz has made a significant contribution to Mercer’s success in Australia, New Zealand and Asia Pacific and we thank him for his insight and leadership during 12 years with the organization,” said Mercer Pacific MD & market leader David Anderson.

“Peter has led Mercer’s Asia Pacific business for the last five years, having held the role of Australia/New Zealand CEO for a number of years prior to that. He is also a member of Mercer’s global executive committee.

Promnitz will continue to contribute to Mercer next year as Marsh & McLennan Companies chairman for Australia and non-executive director of Mercer's Australian fiduciary subsidiaries. He is currently a non-executive director of SFG Australia Limited, and will join the board of Australian Unity Limited in January 2013.

David Anderson will continue to lead Mercer in Australia and New Zealand.

“We wish Peter all the very best for the next phase of his career as an independent  non-executive director and we look forward to his contribution to governance, as our leadership team continues to develop and expand our retirement savings, investments and talent solutions,” said Anderson.

Commenting on the move, a Mercer spokesperson told Wealth Professional that Mercer has reorganised into three regions and Australia/New Zealand, the Pacific market, is now an integral part of the EuroPac region.

"Australia/New Zealand continues to be led by David Anderson. There will be a continued close linkage between Australia/Pacific and Asia as we serve clients and continue to grow our business," said Mercer.

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