Mercer completed the acquisition of Advance Asset Management and BT personal and corporate from Westpac.

Mercer, an investment advisory services provider, completed the acquisition of asset management services providers Advance Asset Management and BT Personal and Corporate from Westpac, an Australian bank and financial services provider. Financial terms were not disclosed. “This is a further step in the simplification of Westpac and supports the Group’s focus on banking in Australia and New Zealand. It also provides significant benefits for BT Super members, new opportunities for our people and redefines the landscape of superannuation in Australia. Since the formation of Westpac’s Specialist Businesses Division around two years ago we have made significant headway on our portfolio simplification agenda, having announced eight business sales, of which five have now completed," Jason Yetton, Westpac CEO.