MutualFundWire.com: Mercer and Callan Call Off Their Wedding

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Monday, March 30, 2009

Mercer and Callan Call Off Their Wedding

A month and a half after announcing their engagement, Mercer and Callan Associates have decided to terminate their deal. The two firms on Monday issued a one-paragraph press release saying that they are "committed to grow their respective businesses as independent firms."

On February 17, Mercer agreed to acquire Callan Associates in a deal that would create one of the largest investment consulting businesses in the US (see The MFWire, 02/17/09). The deal was expected to close toward the end of this quarter.

Press Release

Mercer and Callan Associates announced today that they have mutually agreed to terminate their February 17, 2009 agreement to merge their investment consulting businesses. Mercer and Callan said that they are committed to continuing to grow their respective businesses as independent firms and that each respect one another as competitors. All Callan and Mercer client relationships will continue under their existing respective contractual agreements and consulting teams.