Mercer has set up a Korean investment management business, adding to its North Asia footprint, the consultancy and investment services company said yesterday. 

Led by Kwang Lee as Korea head of investment management, the unit will deliver investment research and advice, actuarial valuations, financial modelling and other related services for Korean institutional investors, fund managers, multinational pension plans and Employee Retirement Security Act vendors.

Lee joined Mercer early this year while the company was still securing necessary regulatory licences for the business. The company was officially awarded the discretionary asset management and investment advisory permits in mid-September. He has 16 years’ asset management experience, having worked at Vanguard Investments, NH-Credit Agricole, which has since been rebranded Amundi, HannaAllianz and LG Asset Management.

"We want to help Korean institutional investors access a range of assets globally to build more diverse and therefore more robust investment portfolios so that they are better able to deal with market volatility and achieve investment objectives," said Lee in a statement. 

Mercer has another business in Korea involving investment consulting, which is led by Joe Kim. To date, the company has a total of five front-office and three support teams in Seoul.