Mercer Global Advisors, one of the nation's largest and fastest-growing registered investment advisors with $63 billion in client assets, has hired Elizabeth Hioe as its new chief people officer. She replaces Martine Lellis, Mercer's former chief talent officer, who was promoted in May to the principle of M&A partner development.
At Mercer, Hioe will be responsible for aligning talent strategy with RIA's HR programs. She also joins Mercer's executive leadership team.
Most recently, Hioe served as chief administrative officer and chief human resources officer at Standard Industries, the parent company of a number of industrial manufacturers. Prior to that, she was a partner at McKinsey & Company in the firm's organizational practice.
Mercer has tripled its workforce over the past five years to over 1,150 employees. The firm has formal programs aimed at encouraging a diverse workforce. For example, through InvestHERs, the firm's women's initiative, Mercer has increased the number of female executives, doubled the number of women on its senior management team and increased the diversity of its board. Women now hold nearly 50% of client roles at the firm.
In May, Mercer announced that Lellis would become head of M&A partner development. The new position was created out of a need to handle the firm's growing pipeline of RIA acquisition targets. The firm has completed over 85 transactions since 2016.
This move followed that of Mercer announcement in February that it hired five new executives to complement its M&A partner development and integration teams. These executives are all tasked with strengthening the firm's inorganic growth strategies.