Mercer has named a new wealth management head for Asia, plus a principal consultant, bringing the consultant's Asia presence to a 19-strong team.

Edmund Teo will lead Mercer’s wealth management team, which provides research, advisory and portfolio management services to Asian-based private banks, insurance companies, consumer banks, financial planning organisations and platforms. Prior to joining Mercer, he was regional director at Russell Investments advising and structuring investment solutions. Teo reports directly to Cara Williams, Mercer’s global head of wealth management in London.

The firm had seen a number of departures in Asia earlier this year but as Cara Williams told sister publication WealthBriefing, it was determined not just to replace them but continue pushing forward in this region. (To view that interview, click here.)

Pierre DeGagne will support Teo as a principal consultant within the team. DeGagne joins Mercer to provide investment advice and solutions to wealth management companies. Prior to joining Mercer, DeGagne was head of funds select at Standard Chartered Bank.

They have been tasked with taking the wealth management offering beyond ASEAN to the rest of the Asia region. They will also be partnering with a platform or virtual platform provider to offer superior governance advice, portfolio construction, investment management and monitoring to banks, family offices, high-net worth individuals and intermediaries.