The third and final member of management
consultant Mercer’s Singapore-based wealth management team, has left, according
to reports.

Iris Kao, principal consultant on the team, left
the firm this month to join a private bank, according to a report on AsianInvestor. She was previously principal
for Asean, reporting to Hansi Mehrotra, Asia-Pacific head of wealth management consulting.

Mehrotra left in December to set up a wealth
management venture in her homeland India. Her exit followed that of analyst
Desmond Lee, who left Mercer last August.

Mercer says it is looking for an Asia head of
wealth management and plans to scale up the business.

“We continue to firmly believe in our services
to the wealth management industry both regionally as well as globally,” said
Cara Williams, global head of wealth management and technology solutions at
Mercer in London, cited by the report.

The firm had established a dedicated
Asia-Pacific wealth consulting team in early 2010, according to AsianInvestor.
The division offers institutional-level advice to private banks and the like in
areas such as asset allocation, funds research and risk management.

Mercer then announced in January this year that
it would integrate its investment consulting and investment management
divisions globally. This also meant changes to the wealth management structure.

Jeff Schutes was named global head of manager
research and wealth management, with Cara Williams reporting to him. Stephen
Roberts became head of investments for Asia-Pacific and Simon Eagleton was appointed
Australia and New Zealand market leader for investments.

The group has wealth teams in Boston, London, Sydney
and Zurich.

Mercer did not immediately return calls for comment.