Mercer has agreed to transition its standalone superannuation administration business to fund administrator Apex Group.
This will enable Apex to integrate Mercer’s administration team and operational capabilities directly into its own business.
Subject to approval from the ACCC and Foreign Investment Review Board (FIRB) approval, it is expected to complete in the first quarter of 2026.
Established in Bermuda in 2003, Apex offers services such as capital raising, corporate management, fund administration and transaction support, delivered by the group and its subsidiary brands.
However, the Mercer deal is the start of its ambition to “be the market leader in super administration in Australia”. For Mercer, the divestment allows it to focus on growing its core wealth business.
Peter Hughes, chief executive of Apex Group, said: “Australia offers strong growth potential for us. The superannuation technology and servicing sectors are a key strategic focus for Apex Group, and by combining innovative technology with high-quality service, we are committed to delivering market leading superannuation administration to funds and their members.
“We aim to expand our operations in Illawarra and across Australia, creating more opportunities for staff and increasing our presence.”
A spokesperson for Mercer said: “Mercer’s decision to transition our stand-alone superannuation administration business aligns with our strategic objective to focus on growing our core wealth businesses in superannuation and investments, alongside Mercer Workforce Solutions and Mercer Marsh Benefits.”
In June 2025, Iress finalised the sale of its super arm to Apex Group which formed part of a broader strategic review by Iress amid its transformation program, which concluded that it was not the “natural owner” of a regulated superannuation services provider.
“Divesting the superannuation business enhances our ability to focus on our high quality core businesses of wealth and trading and market data where we see good opportunities for organic growth and higher returns for shareholders,” the firm said at the time.
