Mercer Management Consulting Acquires Spanish Firm

Business Wire, August 30, 2004

NEW YORK -- Global consultant Mercer Management Consulting has strengthened its client-serving capabilities in Spain with the acquisition of c.r.m Concord, s.a., a Madrid-based strategy and operations consulting firm. The acquisition bolsters Mercer's continued growth in Europe, which now accounts for approximately half of the firm's total revenues worldwide. The terms of the deal were not disclosed.

Concord, which was founded in 1996, serves clients in Spain primarily in the energy, transport/infrastructure, financial services, and health care industries. The firm is led by its founder, Jose Miguel Arguelles, who has broad experience as a line manager as well as in consulting. Mr. Arguelles was in charge of the operations of the Mac Group and of Booz Allen Hamilton in Spain prior to founding Concord.

David Morrison, president of Mercer Management Consulting, observed that "the addition of Concord helps us achieve a critical mass of talent to serve the evolving needs of our multinational clients in an important market for us." Jordi Dunach, a Mercer managing director and head of the firm's operations in Iberia, added: "This strengthens our capabilities in Spain by broadening our offering into complementary areas of the consulting market."

Mr. Arguelles described the acquisition as important to his firm's ability to continue serving clients on a global basis. "Mercer is a perfect fit for us in providing global reach, a strong brand, and access to leading-edge ideas," he said. "At the same time, Mercer also has a long track record in understanding what it takes to succeed in local markets."

Mercer Management Consulting is a leading global strategy and operations consulting firms, serving clients from 22 offices in the Americas, Asia, and Europe, including Spain (Madrid) and Portugal (Lisbon). The firm is a member of Mercer Inc., one of the world's largest consulting organizations, and a subsidiary of Marsh & McLennan Companies, Inc.