Market Overview

Mercer Signs Agreement to Acquire Summit Strategies Group

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Acquisition will enhance Mercer's capabilities in not-for-profit
segment

Mercer,
a global consulting leader in advancing health, wealth and career, and a
wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), has
signed a definitive agreement to acquire Summit
Strategies Group
("Summit"), a leading investment consultant
headquartered in St. Louis, Missouri.

"Summit is a strong investment consultant in the not-for-profit space,
providing notable alternatives capabilities to hospitals and
foundations," said Rich Nuzum, President, Mercer's global Wealth
business. "The depth and breadth of Summit's expertise, coupled with our
offerings, will benefit our collective client bases. We look forward to
integrating our teams and offerings to provide a wider array of
services."

Founded in 1995 to provide high value‐added investment consulting
services to institutional clients, Summit's experienced team of
results‐driven investment professionals provide focused and customized
attention to its clients. With approximately $160 billion under
advisement as of December 31, 2017, Summit has been ranked as a
Greenwich Quality LeaderSM in 2015 and 2016 by Greenwich
Associates. Summit's services include traditional consulting (for
defined benefit pension plans, health care systems, endowments and
foundations), defined contribution services and outsourced chief
investment officer (OCIO) support.

"We believe that having a global research footprint and a robust
technology platform will better position us to support our clients.
We're excited to join Mercer and be able to bring their research
capabilities and spectrum of holistic offerings to our clients," said
Steve Holmes, Principal and Founder, Summit. "We are eager to integrate
Summit's innovative and customized solutions and our unwavering
commitment to a service culture with Mercer's global research network
and its client experience."

This transaction is subject to customary conditions to closing and is
expected to close in Q4 2018.

About Mercer

Mercer
delivers advice and technology-driven solutions that help organizations
meet the health, wealth and career needs of a changing workforce.
Mercer's more than 23,000 employees are based in 44 countries and the
firm operates in over 130 countries. Mercer is a wholly owned subsidiary
of Marsh
& McLennan Companies
(NYSE:MMC), the leading global
professional services firm in the areas of risk, strategy and people.
With nearly 65,000 colleagues and annual revenue over $14 billion,
through its market-leading companies including Marsh,
Guy
Carpenter
and Oliver
Wyman
, Marsh & McLennan helps clients navigate an increasingly
dynamic and complex environment. For more information, visit www.mercer.com.
Follow Mercer on Twitter @Mercer.

About Summit Strategies Group

Summit Strategies Group is one of the industry's leading investment
consultants focused on developing long-term partnerships with
institutional investors. Founded in 1995, they have been serving
clients, including endowments and foundations, hospitals and health care
systems, public funds and corporations (defined benefit and defined
contribution plans), for more than 20 years. Summit Strategies Group is
a traditional full-service consulting, defined contribution and
outsourced CIO services. Their extensive in-house resources and research
capabilities help clients meet their investment objectives. The team
includes highly experienced professionals in the areas of consulting,
capital markets and risk management, manager research, operational due
diligence, and performance measurement and analytics.

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