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Mercer rings changes at Pillar
Mercer's acquisition of superannuation administrator, Pillar Administration, has resulted in the departure of its chief executive, Peter Brook.
Brook departed from his CEO role last Friday after having overseen the preparation of the Wollongong-based administration company for its sale by the NSW Government.
While some other executive level changes are expected at the administrator, the terms imposed on the sale of the business are such that no major staff reductions are imminent.
Mercer's acquisition of Pillar Administration was announced late last year in a move which sees Mercer become the second-largest entity in the superannuation space behind the Link Market Services-owned Australian Administration Services, which acquired Superpartners.
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