Terms of the deal weren’t disclosed. The combined entity will boast roughly 1,100 investment consulting employees in 41 offices worldwide.
Asked if there would be layoffs, as both firms already have offices in San Francisco, Atlanta and Chicago, Mercer spokesman Charles Salmans said the deal wasn’t motivated by cost-cutting.
In a joint news release, Callan chairman and CEO Ronald D. Peyton said that with Callan’s strength in the U.S. market and Mercer’s global reach, “We can offer clients a wider range of tools and resources, top-notch professional advice and enhanced research, educational and quantitative services.”
Salmans said the Callan Investments Institute, an educational forum that hosts conferences for member institutional investors and money managers, will be retained by the combined entity.
Mercer had ended its own conference program amid heightened concerns about potential conflicts of interest in the wake of a market-timing scandal that hit the money management industry in late 2003.