Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSE: MMC), announced the appointment of Olaolu Aganga as Partner, US Chief Investment Officer (CIO), effective today. Ms. Aganga will report to Hooman Kaveh, Global Chief Investment Officer, and join the leadership team for Mercer’s US Outsourced Chief Investment Officer (OCIO) practice.

Based in New York, Ms. Aganga will lead the US OCIO investment team to implement and deliver all aspects of Mercer’s OCIO investment processes, including strategic and dynamic asset allocation, fund manager selection, as well as risk management across Mercer’s US OCIO client base, ranging from endowments and foundations to defined benefit and defined contribution retirement plans, wealth managers, and insurance companies.

“I am proud to join Mercer, a firm I’ve long admired for its agility and track record for helping clients deliver impressive investment results,” said Ms. Aganga. “I’m joining a strong, global team of investment professionals and look forward to working alongside them to continue to deliver bespoke investment solutions and drive better investment outcomes for our clients.”

Ms. Aganga was most recently a Managing Director within BlackRock’s US OCIO business. Prior to BlackRock, Ms. Aganga advised institutional clients on a variety of investment solutions for Goldman Sachs. Ms. Aganga earned a degree in Mathematics from Smith College and an MBA and a Certificate in Public Management from Stanford University Graduate School of Business.

“We are fortunate to attract the brightest investment talent and Olaolu’s move to Mercer reflects that,” said Jen Kruse, US OCIO Leader, Mercer. “With Olaolu’s client-centric focus and proven track record of driving innovation and results, we are confident she will be a trusted advisor to our clients to help them navigate and capture the opportunities of the rapidly evolving global market.”

There has been increased interest in outsourcing investment needs through an OCIO model as investors need to consider incorporating more complex asset classes and stronger diversification in an evolving regulatory environment. Investment teams continue to face challenges with bandwidth and expertise, and according to Mercer’s latest research, 59% of financial executives who responded to the survey reported that they struggle to execute changes in a timely fashion. As trusted advisors, Mercer partners with clients who want to outsource some or all of their investment decisions and operations, saving them time, improving governance, and reacting nimbly to rapidly changing markets. Mercer’s OCIO business has experienced significant growth in recent years, reaching $393 billion in global assets under management.¹

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About Mercer

Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s approximately 25,000 employees are based in 43 countries and the firm operates in 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with more than 85,000 colleagues and annual revenue of over $20 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit mercer.com. Follow Mercer on LinkedIn and Twitter.

A business of Marsh McLennan

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1</sup> Assets under management as of June 30, 2023. The assets under management data (the AUM Data) reported here include aggregated assets for which Mercer Investments LLC [and its global affiliates] provide discretionary investment management services as of the dates indicated. With respect to certain commitment-based private funds managed by Mercer Investments LLC or its global affiliates, the AUM data includes committed but uncalled capital, which may also be reflected in client assets otherwise managed by Mercer Investments LLC or its global affiliates. The AUM Data reported here may differ from regulatory assets under management reported in the Form ADV for Mercer Investments. For regulatory assets under management, please see the Form ADV for Mercer Investments which is available upon request by contacting Compliance Department, Mercer Investments 99 High Street, Boston, MA 02110.

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