Deal enhances Mercer’s Talent and Rewards leadership across Asia
HONG KONG--(BUSINESS WIRE)--Mercer, a global consulting leader in advancing health, wealth and
careers, and a wholly owned subsidiary of Marsh & McLennan Companies
(NYSE: MMC), today announced the acquisition of Human Resources Business
Solutions (HRBS), a provider of career and talent consulting and
information services to clients across Asia, with concentrated strength
in Hong Kong, Singapore and mainland China. The acquisition will extend
Mercer’s leadership in Asia in compensation and benefits expertise, an
area of critical importance in the region’s high demand talent markets.
Founded in 2001, HRBS has offices in Hong Kong, Singapore, Shanghai and
Beijing and employs approximately 45 professionals. The company has
built a strong brand on the bedrock of its operation being the high
quality and consistency of its executive remuneration information
assets, which cover both multinational and publicly listed firms. The
company is a dominant player in the compensation and benefits space for
inbound multinationals and has established market leadership in the
luxury goods, retail and apparel-sourcing sectors across Asia.
“Our clients across Asia are experiencing incredible growth and change
and, as a result, they are facing new and greater complexities in talent
management,” said Susan Haberman, Mercer’s Talent Business Leader for
Growth Markets. “HRBS has an excellent reputation for talent consulting
combined with consistent, highly sought after information. The
acquisition will strengthen Mercer’s competitive position in its core
Talent business and will fuel faster growth than we would have achieved
organically. Together, we will bring the best possible information and
solutions to our clients.”
HRBS will enhance Mercer’s portfolio in the areas of remuneration
strategy, pay structure design, short- and long-term incentive design
and performance management. It will also bring a range of regular
surveys to Mercer clients, including an Executive Pay Survey, an
Employee Benefits Survey and industry-specific surveys across numerous
sectors, including luxury goods, retail, garment buying, market
research, marketing services, internet and construction. HRBS also
conducts surveys on merit increases, bonuses, attrition and ad-hoc
surveys on market conditions.
“We are delighted to be able to do more for our clients by merging with
the global Mercer team,” said Elaine Ng, Managing Principal and
Co-Founder of HRBS. “This strategic move is a win-win for both companies
and our clients. Few organizations can offer high quality data and
advisory capabilities in executive compensation. By combining HRBS’
skillsets with those of Mercer, we will be redefining executive
compensation solutions in the marketplaces of Asia.”
The transaction is expected to close in the next 30 days.
About HRBS
HRBS (HR Business Solutions) is an independent compensation and benefits
consultancy. Our services cover four main areas, namely Consulting
Service, Information Service, C&B Training and C&B Online Solutions.
Headquartered in Hong Kong and having offices in Singapore, Shanghai and
Beijing, HRBS serves over 400 multinational companies across the Asia
region. We provide executive compensation expertise and advisory and run
an annual executive compensation survey across countries in Asia, in
addition to a public listed directors’ remuneration online database in
Hong Kong and Singapore respectively. We are the industry leader in
conducting luxury goods industry and retail surveys as well as garment
buying and general merchandizing surveys among the sourcing arms of
global retailers. We conduct other regular industry surveys in market
research, marketing services, electronics, internet and construction
sectors, as well as a benefits survey. With quality delivery and prompt
service in response to client needs, we have gained our reputation to be
a reliable service provider and business partner in working on a
wide-range of consulting projects from salary to incentives and
benefits. For more information, visit www.hrbsasia.com.
About Mercer
Mercer is a global consulting leader in talent, health, retirement and
investments. Mercer helps clients around the world advance the health,
wealth and performance of their most vital asset – their people.
Mercer’s more than 20,000 employees are based in more than 40 countries
and the firm operates in over 130 countries. Mercer is a wholly owned
subsidiary of Marsh
& McLennan Companies (NYSE: MMC), a global professional services
firm offering clients advice and solutions in the areas of risk,
strategy and people. With 57,000 employees worldwide and annual revenue
exceeding $13 billion, Marsh & McLennan Companies is also the parent
company of Marsh,
a leader in insurance broking and risk management; Guy
Carpenter, a leader in providing risk and reinsurance intermediary
services; and Oliver
Wyman, a leader in management consulting. For more information,
visit www.mercer.com.
Follow Mercer on Twitter @Mercer.
Contacts
For Mercer
Fiona Parker, +852 3114 6337
fiona.parker@mhpc.com