Australia’s Equity Trustees (EQT) has appointed American financial advisory services company Mercer as asset consultant for its retail and institutional businesses.
Under the terms of the contract, Mercer will offer advisory on asset allocation, reporting and monitoring, and portfolio construction to EQT’s board investment committee, according to Financial Standard.
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The company will also assist EQT in meeting its obligatory regulatory and legislative norms, the report added.
Robert Burns, managing director at EQT, said: "Mercer met our strict criteria for delivering asset consultant services, including providing quality research and product recommendations, reporting and monitoring in line with our prudential obligations, and having the breadth and depth of resources, including people and technology on a global scale, to meet the needs of both our institutional and retail businesses.
"In particular, Mercer will work closely with George Boubouras in our newly created CIO role to help deliver consistent returns across all mandates," Burns added.
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