Sandy McCarthy, late of ING and CitiStreet, has joined Mercer to head its retirement business.
Mercer, a global provider of benefits outsourcing, announced today that it had named McCarthy as Retirement Business Leader for its U.S. outsourcing business, effective August 10. In this role, McCarthy will be responsible for the financial, strategic, market positioning, and overall success of Mercer’s defined contribution administration, defined benefit administration, and total retirement outsourcing (TRO) lines of business. She will report to Michael Sternklar, COO and Head of the Americas for Mercer’s outsourcing business and will be based in Norwood, Massachusetts.
McCarthy joins Mercer from ING, where she most recently served as President, ING Institutional Plan Services, where she was responsible for benefit administration services for government and large- and mega-corporate clients. These services included defined contribution, defined benefit, total retirement outsourcing, and health and HR services. She was a member of the founding executive team of CitiStreet and was President and a member of the board of directors at the time of CitiStreet’s acquisition by ING. Prior to CitiStreet, she held senior-level positions at several financial services institutions including State Street Global Advisors and Fidelity Investments, according to the announcement.
Eric Levy, who previously led Mercer’s outsourcing retirement business, will now focus his efforts exclusively on leading the continued growth and expansion of Mercer’s DC administration business, reporting to McCarthy.
“With her proven leadership and extensive experience in the retirement industry, Sandy will be a great addition to Mercer,” noted Sternklar. “Sandy brings a long history of serving diverse client needs and developing business opportunities, which will be an asset for our growing retirement business. With the recent expansion of our defined contribution administration services to include partnering with advisors to reach companies with 500+ employees, along with the broadening of our Taft-Hartley client relationships, Sandy’s hiring will help us meet the needs of our evolving service model and client base.”