Mercer loses two senior institutional advisers The investment consultancy plans to replace its China wealth leader after he left last month. A principal on its alternatives team has also moved on. Mercer will name a new head of its institutional and wealth business in China after Leo Shen left the investment consultancy late last month, while private markets specialist Valerie Wong has also moved on, a spokeswoman for the firm said. Shen, who had been China wealth business leader in Shanghai since joining in February 2019, resigned for family reasons and left on December 25, the spokeswoman told AsianInvestor. Leo Shen: A Christmas exit