Marsh & McLennan Companies will move its Sydney office to the city’s new waterfront precinct Barangaroo late next year.

About 1000 employees from wholly owned units Marsh, Guy Carpenter, Mercer and Oliver Wyman are expected to settle in at International Towers, which is under construction.

“The relocation is a part of Marsh & McLennan Companies’ continued investment in our Australian businesses and will create a leading-edge workplace for employees,” Chairman Australia David Anderson said.

“Our people are our greatest asset and our new Sydney residence will empower colleagues and clients to work and interact in smarter ways.”

The $6 billion Barangaroo project on the northwestern edge of the CBD is expected to provide space for more than 24,000 jobs and generate $2 billion a year for the local economy.