Mercer Advisors hires Goldman alum Cynthia Loh as first-ever chief platform officer
Cynthia Loh, chief platform officer at Mercer Advisors.
New C-suite rent lands days after a $1.65 billion mortgage refinancing, because the $111 billion mega-RIA continues to construct out its govt bench
Mercer Advisors has introduced on a former Goldman exec as its first-ever chief platform officer, placing a seasoned trade veteran in command of nationwide staff spanning know-how, digital product, design and operations because it expands its govt ranks whereas additionally transforming its stability sheet.
Cynthia Loh is becoming a member of the Denver-based registered financial backing adviser from Goldman Sachs because the non-public equity-owned agency explores a billion dollar-plus leveraged mortgage to refinance present non-public credit score debt, a transfer that may put it aside tens of millions in borrowing prices per yr.
Loh, who additionally brings expertise from her time at Schwab and Betterment, will report into the agency’s govt management staff and oversee the working platform that underpins each the advisor and consumer expertise at Mercer Advisors.
Loh most just lately served as senior vice chairman and head of Beyond the Card at Capital One. Before that, she was head of product for Goldman Sachs’ Workplace Wealth unit, the place she led the product group behind the agency’s wealth providing for Fortune 1000 employers.
Earlier in her profession, she oversaw the Schwab Intelligent Portfolios platform at Charles Schwab and constructed and launched the 401(okay) industry at Betterment, with extra stops at PIMCO and Merrill Lynch.
Chief govt Dave Welling stated in a press release that Loh has spent her profession “on the intersection of recommendation, product and know-how,” constructing platforms that attain giant numbers of buyers with out shedding the human relationship advisors keep with shoppers.
“Delivering technology-enabled built-in recommendation at scale in a means that preserves the human relationship is without doubt one of the hardest issues in wealth administration,” Loh stated. “I consider Mercer Advisors has the in-house experience, the fiduciary-first mannequin and the know-how basis to do it.”
President Daniel Gourvitch framed the rent as a part of a broader dedication to reinvest within the agency’s know-how because it grows. Mercer Advisors, which ultimately examine reported $111 million in AUM, formally crossed the $100 billion asset threshold in June.
On the tech entrance, the agency recently unveiled the second generation of Aspen, its proprietary AI-enabled platform for family offices, now deployed throughout greater than 1,100 of the agency’s wealth professionals.
“I’m excited to … establish ways in which know-how, together with AI, could make the expertise easier and simpler for advisors and shoppers,” Loh stated. “The aim is to present advisors the instruments and help they should spend extra of their time centered on shoppers.”
Loh’s rent follows a string of additives to Mercer’s management staff this yr, together with Melissa Nims as chief solutions officer, Jeremiah Barlow as chief industrial officer and Jimmy Zhao as chief company growth officer.
While constructing out its govt management, Mercer has additionally reportedly been reshaping its capital stack. As per a Bloomberg News report last week, the mega-RIA is trying to tackle a $1.65 billion leveraged mortgage to refinance present non-public debt. The seven-year mortgage would reduce Mercer’s borrowing margin by 1.75 proportion factors and save about $29 million a yr, in accordance with a supply accustomed to the matter.
“This refinancing is a pure subsequent step for us,” Mercer CFO Gün Keresteci instructed Bloomberg, emphasizing that decrease prices would enable the agency extra monetary wiggle room to raised serve its shoppers.
