Mercer Oliver Wyman Launches Sydney Operation; Appoints David Moloney to Spearhead Permanent Presence in Australian and New Zealand Markets

Business Wire, May 26, 2004

Business Editors

NEW YORK--(BUSINESS WIRE)--May 26, 2004

Mercer Oliver Wyman, a leading global financial services strategy and risk management consulting firm, has opened a permanent office in Sydney serving the Australian and New Zealand markets. The company has appointed David Moloney as Director to lead the development of Mercer Oliver Wyman's business in Australia and New Zealand. This office opening is an important milestone in Mercer Oliver Wyman's planned expansion in Asia-Pacific over the next few years.

Moloney was previously a partner in the global financial services practice of Booz Allen Hamilton, where he led strategic and operational improvement programs with financial institutions in Australia, New Zealand, UK, Canada, South Africa, Scandinavia, and Singapore. Prior to joining Booz Allen Hamilton, Moloney worked for Westpac Banking Corporation for nine years in a wide range of banking and technology roles.

John Drzik, President of Mercer Oliver Wyman, said: "As the only major strategy consulting firm in Australia that specializes in financial services, we will be able to provide much deeper expertise across corporate strategy, capital markets, corporate and commercial banking, retail financial services, finance & risk, insurance, and actuarial than our competitors. Having David on board will enable us to channel our global expertise more effectively to our existing and new clients in Australia and New Zealand."

Moloney said: "Mercer Oliver Wyman is already well known in Australia for its intellectual capital and experience working with financial institutions around the world. Establishing a permanent presence in Australia will make this strategic asset much more accessible to local financial institutions wanting to create competitive advantage.

"Australian financial institutions are recognized as being among the world's most sophisticated. This is due in part to their eagerness to understand and embrace best practices from around the world. Mercer Oliver Wyman will position itself in Australia, as in other markets, as the leading conduit for this global best practice thinking," he said.

Moloney holds a first class honors degree and medal in Computing Science from the University of Technology, Sydney, and an MBA majoring in Strategy from the MIT Sloan School of Management. In addition, he has presented at numerous conferences and co-authored articles on customer strategy, wealth management, distribution strategy, retail lending and corporate strategy.

About Mercer Oliver Wyman

Mercer Oliver Wyman, a division within Marsh & McLennan Companies, Inc., is a leader in financial services strategy and risk management consulting. The firm was formed in April 2003 from a merger of Oliver, Wyman & Company (founded in 1984) and the financial services strategy and actuarial risk consulting practices of Mercer Inc. The firm now employs more than 650 staff working out of 25 offices in 12 countries throughout North America, Europe, and Asia Pacific.