Mercer Global Advisors, one of the largest and fastest-growing registered investment advisors in the nation 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 principal of M&A partner development.
At Mercer, Hioe will be responsible for aligning the talent strategy with the RIA’s human resources 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 company’s organization practice.
Mercer has tripled its workforce over the last 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 the senior leadership team and increased the diversity of its board. Women now hold nearly 50% of client-facing roles at the firm.
In May, Mercer announced Lellis would become principal 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.
That move followed Mercer’s announcement in February that it hired five new executives to fill out its M&A partner development and integration teams. These executives are all tasked with bolstering the firm’s inorganic growth strategies.