Topic - acquisitions
Merger to go ahead between Mercy Super and HESTA
Aug 24 2022
1 min read
Section Editor

Mercy Super and HESTA’s Trustee Boards have announced that the two companies have agreed, after a rigorous legal process, to a merger.

Both parties are aiming to have the merger take place on 30 November this year.

“It’s wonderful to reach this significant milestone in the progress towards merging our two funds that have such a proud legacy of serving our members,” said HESTA CEO Debby Blakey (above).

“Mercy Super and HESTA rounded out the 2021-22 financial year delivering some of the industry’s best long-term investment performance. Merging from such a position of strength means members will continue to benefit from being part of a leading superannuation fund.”

Mercy Super CEO Wendy Tancred (pictured) was similarly positive about the outcome.

“We are delighted to reach this milestone confirming our selection of HESTA as the best strategic fit for our members, ensuring a strong and sustainable future for their retirement outcomes,” she said.

The merger should cause a minimum of disruption for members of Mercy Super. The fund’s Mater South Brisbane hospital campus site will remain open for members looking for assistance.

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