By Bill Ibelle
With the national economy in flux, fulfilling GSO’s mission to “build the blue economy
workforce” requires the ability to adapt to a changing world.
That’s where advisors like Anthony Mercurio come in.
Mercurio serves on GSO’s Advisory Council, where he brings a private industry perspective to GSO’s top-tiered academic setting. He has spent the last four decades working for Marsh McLennan, one of the world’s largest risk management consulting firms, where he provides advice to private industries around the globe.
His perspective is important given the school’s desire to expand the career options for its graduates.
“Historically, the primary pathways for graduates of GSO were academia, the federal government, and industries like gas and oil,” he says. “GSO leadership recognizes that it’s important for the school to develop new pathways.”
Mercurio believes that one potential pathway is the insurance industry since its foundation is risk assessment, which requires skills in data analytics, forecasting, and modeling—all of which students develop at GSO.
“In an era of climate change, assessing risk is largely about the weather, and weather is all about the oceans,” says Mercurio.
“The industry is not good at adjusting for large trends,” says Mercurio. “It relies on past data to project forward. But that doesn’t account for the fundamental shifts caused by climate change. Assessing risk is growing more complex and the industry needs to refine its scientific approach. GSO graduates are uniquely positioned to address coastal impacts of these changes.”
Shifting Economic Landscape
The development of additional career pathways has never been more important. Research funding from agencies such as NOAA and the NSF has been significantly reduced, including funding for academic institutions—all of which have been major career paths for GSO graduates.
“In an era of climate change, assessing risk is largely about the weather, and weather is all about the oceans.”Anthony Mercurio ’85
One recent casualty was a partnership between GSO and Mercurio’s company.
“The Inflation Reduction Act passed by the previous administration provided funding for universities to create partnerships between academia and private industry,” says Mercurio. “We were going to form a partnership with GSO to find ways to expand the blue economy. But that has all been derailed. The people we were working with in government aren’t even employed there anymore.”
Even with these challenges, GSO is moving forward. The Bay Campus is undergoing a major renovation, which includes the construction of the Ocean Robotics Laboratory and a new 200-foot research vessel, Narragansett Dawn.
The school has also partnered with Propeller Ventures to attract private equity money for ocean-based environmental products developed by students and professors at the school. The company’s venture capitalists are looking for GSO to provide ideas that they can invest in.
“There’s often a big gap between academia and the private equity world,” says Mercurio. “The Propeller fund is designed to bridge that gap.”
An Unplanned Career
Mercurio’s career in risk management was completely unplanned. He grew up in Westerly, R.I., graduated from URI with a B.S. in biology, and dreamed of attending GSO for his graduate degree. But finances got in the way.
“I had to get a job,” he says. “I had an offer from a zoology professor to help with research on a nearly extinct mouse in the Florida Everglades, but when I realized that my job would be to pitch a tent and count mice, I decided to pass.”
That’s when chance intervened. Throughout high school and college, Mercurio spent summers working on a 50-foot sailing yacht based in Watch Hill, first as crew and later as captain. When the owner asked what his plans were after graduation, he admitted he didn’t have any. That’s when the owner suggested that Mercurio work for his company in New York City. That company turned out to be one of the biggest insurance consulting companies in the world, and during his 40 years at Marsh McLennan, Mercurio rose through the ranks to managing director.
Now, as he approaches retirement, he’s planning his return to the ocean.
He and his wife bought a custom 56-foot Boreal sailboat built in France and plan to sail the Mediterranean for a year or two. The plan, which has yet to be finalized, is to take a blue water shakedown cruise to northern Norway in preparation for an extended voyage to circumnavigate North America.
But for now, Mercurio’s attention is still focused on helping GSO position itself for the future.
“This is an incredible time for GSO,” says Mercurio. “We have great students, faculty, and leadership. We have new facilities, a new research vessel, an oceanfront campus. There aren’t many schools in the country that have that combination of resources.”