Mercer Global Advisors, one of the nation's largest and fastest-growing registered investment advisors with more than $60 billion in client assets, has promoted Martine Lellis, the firm's chief talent officer since 2020, to head of development of M&A partners. The new position was created out of a need to handle the firm's growing pipeline of RIA acquisition targets.
The news does not affect Dave Barton, who stepped down from his role as CEO in 2017 to serve as vice president of M&A. Barton will continue in that role and Lellis' promotion will allow him to focus on certain M&A deals.
The firm will conduct an executive search for a new head of talent, and Lellis will act in that role until someone is appointed.
Lellis said the new role was a natural transition for her, given that she had seen over 55 deals close since joining the buyout RIA.
“Over these last 4 1/2 years, I've been able to work to build what that means for people coming through the mergers and acquisitions process,” she said. “Having 4 1/2 years of institutional knowledge of how mergers and acquisitions work within the organization and also how the talent strategy works within the organization is a natural pivot for my next phase.”
The move follows that of Mercer announcement in February that it hired five new executives to complement the development and integration teams of its M&A partners—all charged with strengthening the firm's inorganic growth strategies.
This included Andy Burgess, former regional director of business development at NewEdge Advisors, who joined Mercer's M&A partner development team as vice president; Greg Mayes, a former vice president of strategic business development at LPL Financial, who was added to the same team in a similar role. Jay Robinson, a former managing director at Schwab, also came on board with the partner development team as vice president.
Mercer also added Stacy Orff, former managing director and head of marketing at DeVoe & Company, as vice president of platform marketing and Jeff Dadamo, a former executive at Dimensional Fund Advisors, as senior director of M&A investment integration.
Lellis will act as the face of Mercer at industry events and other venues where potential partner firms may be and help articulate what it's like to be at Mercer. She will take on deals, but also support the partner development team with due diligence and evaluation of the firms they have already taken on. She will assist with negotiation and deal structuring throughout the deal process, from signing purchase agreements to closing acquisitions.
“Honestly, the pipeline is growing,” Lellis said. “There are so many opportunities, and it's so right that we add someone who can really bring that executive presence to move those opportunities across the finish line.”
Prior to joining Mercer, Lellis served as chief operating officer at wealth management firm Sullivan, Bruyette, Speros & Blayney.