Mercer has restructured its reporting lines with three businesses now reporting to Simon Eagleton following the departure of Graeme Mather.
Eagleton, who is currently head of investment management, will also become head of both the consulting investment business and the retirement business.
Mather is serving out his three months’ notice period and will leave Mercer in early August after 18 years at the financial institution. He was market leader for Mercer investment consulting in Australia for six years, before becoming the retirement and investment consulting business leader in October 2015.
Speaking about the reasons for his move to Schroders, Mather said it is one of the most respected and reputable fund managers globally.
“I was particularly attracted to the business because it has great people, a great culture, great products and I have always had a large amount of respect for Greg Cooper, the chief executive of Schroders Australia,” Mather said.
“Clearly, it was a tough decision to leave Mercer after 18 years, as this is also a great firm with great people and to some extent I feel like I’m leaving home for the first time. Mercer have seen a lot of success recently and I know that they will continue to be a great firm.”
Mather will be the director, head of product and distribution at Schroders, taking over from Chris Durack, who was promoted to country head of Schroders Hong Kong earlier this year.
“Graeme is a highly experienced and respected leader within the wealth management industry, and we are excited about the contribution he will make to our business,” Cooper said.
Schroders in Australia manages over $49 billion in assets (as at April 30, 2016) across international and Australian equities, fixed income and multi-asset strategies.