WASHINGTON (dpa-AFX) - Marsh & McLennan (MMC) Tuesday announced that its business, Mercer, has agreed to acquire SECOR Asset Management, a provider of strategic investment solutions for institutional investors. The financial terms of the deal were not disclosed.
SECOR manages $21.5 billion in assets and specializes in portfolio management and fiduciary services. Upon completion, more than 40 SECOR professionals in New York and London will join Mercer, enhancing its investment capabilities for institutional clients.
This acquisition aligns with Marsh McLennan's commitment to delivering world-class investment solutions.
The transaction is expected to close in the second quarter.
MMC is currently trading at $229.86 up 0.45 percent or $1.03 on the New York Stock Exchange.
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