The firm's appointments affect roles in the US, Europe and Asia.

Mercer
Mercer has announced changes to its investment leadership, appointing Garvan McCarthy, Andrew McDougall, Mike Sebastian and Kam Chang. Mercer is a business of New York-listed Marsh, a group operating in the area of risk, reinsurance and capital, people and investments, and management consulting.

McCarthy has been named global alternatives chief investment officer. In this role, he will lead Mercer’s global alternatives platform, comprising the global and regional investment teams focused on private-market asset classes, including private credit, private equity, real assets and hedge funds. McCarthy will continue to serve as EMEA and Asia chief investment officer until a successor is announced. He will also continue in his role as co-CEO of Mercer Alternatives AG will still be based in Dublin, the firm, which is owned by New York-listed Marsh, said in a statement. McCarthy joined Mercer in 2003.

McDougall, who has has been made US chief investment officer, will be based in Boston. A long-standing Mercer Investments leader, McDougal has been global head of multi-asset, as well as serving in prior leadership roles in portfolio management for Mercer’s European investments business.

Sebastian, who has been named global head of multi-asset, will lead the global team responsible for total portfolio construction across public and private markets. Based in Chicago, he will support the organization in the areas of reference portfolios, macro research views and intellectual capital, economics and dynamic asset allocation (DAA), multi-asset manager research and market event responses. Sebastian is joining from Syntrinsic, where he was the head of investment solutions and led market views, asset allocation, portfolio construction and manager research.

Chang has been appointed head of the investment partnerships group, a global team of specialized and experienced investment professionals who work with clients who have large and complex investment mandates. He joined Mercer as part of the SECOR acquisition last year. Chang has three decades of experience in investment management at Promark Global Advisors, formerly General Motors Asset Management, and SECOR, where he served as principal. Chang is succeeding Tony Kao, who joined Mercer with the SECOR acquisition, and is retiring after a career in investments. Chang will continue to be based in New York.