New York (9/12/16) — Joseph A. LoCicero, President and CEO of The Segal Group, Inc. announced today that Segal Rogerscasey, the firm’s SEC registered investment consulting business, has signed an asset purchase agreement to acquire the business of Marco Consulting Group (MCG) effective January 1, 2017. MCG is one of the premier investment consulting firms to multiemployer benefit plans in the U.S. The combined firm will be known as Segal Marco Advisors.
“The acquisition of Marco Consulting Group represents a significant enhancement to the already deep expertise of Segal Rogerscasey,” commented Mr. LoCicero. “It is also a major move in The Segal Group’s continuing commitment to its clients to provide the highest level of actuarial, retirement, health, investment, administration, compliance, communications, and HR and compensation consulting services.”
Segal Marco Advisors will have a staff of more than 150 investment, consulting and research professionals serving more than 400 clients with advisory assets exceeding $500 billion. John DeMairo, Segal Rogerscasey’s President and CEO, will continue in the same role at Segal Marco Advisors. MCG co-founders, Jack Marco and Tom Mitchell, Sr., will serve as advisors to the organization.
“The multiemployer market is a key market for Segal Consulting and Segal Rogerscasey, and the sole focus of MCG,” commented Mr. DeMairo. “This combination will provide trustees with unprecedented resources and talent, and make us the undisputed leader for multiemployer investment consulting.”
Mr. DeMairo continued, “In the many years we’ve competed with MCG, we have always been impressed with their people and investment solutions. Combining our strengths will not only be good for our clients, but will also make us more competitive in our chosen markets.”
Mr. Marco added, “Segal Rogerscasey has industry-leading research capabilities, particularly in the areas of manager due diligence, alternative investments and asset-liability modeling. We look forward to working with their research teams and bringing those additional capabilities to our existing clients.”
The actuarial expertise provided by Segal Consulting will also play a major role for clients of Segal Marco Advisors. “Today’s multiemployer funds seek assistance managing their assets and liabilities to help ensure their participants’ retirement readiness,” said Mr. LoCicero. “Trustees will find Segal Marco Advisor’s investment consulting and Segal Consulting’s actuarial experience to be unmatched in the market.”
“Coming together makes even more sense because both firms are privately held,” noted Mr. Mitchell. “This allows the continuation of a laser-like focus on our clients not often seen in publicly held corporations. Client service will continue to be our first priority.”
Segal Marco Advisors will be headquartered in New York, but will continue to have a significant presence in Chicago operating out of the current MCG office. In addition, it will have offices in Atlanta, Boston, Chicago, Cleveland, Darien (CT), Dallas, Denver, Los Angeles, Seattle, Toronto and Ireland.
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Segal Rogerscasey, a member of The Segal Group, is a leading global investment solutions firm that provides innovative, client-driven consulting advice and outsourcing solutions. The firm has been in operation for 47 years and is one of the largest U.S.-based investment consultants. Clients include corporations, non-profit organizations, endowments, foundations, state and local governments and joint boards of trustees administering benefit plans under the Taft-Hartley Act. The firm works with financial services firms through Rogerscasey, a Division of SegalAdvisors, and with Canadian clients through Segal Rogerscasey Canada. The firm is also a founding member of the Global Investment Research Alliance.