Archive

Towers Perrin, Watson Wyatt Shareholders OK Merger

By Staff Report

Dec. 23, 2009

Shareholders of Towers, Perrin, Forster & Crosby Inc. and Watson Wyatt Worldwide have overwhelmingly approved a merger of the two consulting firms.


The shareholder approval comes after clearance by U.S. antitrust authorities and the European Commission.


Stamford, Connecticut-based Towers Perrin and Arlington, Virginia-based Watson Wyatt expect the merger to take effect January 1. The combined firm will operate under the name Towers Watson & Co.


The merger will create the world’s largest employee benefits consulting firm, with annual revenue of about $3 billion. Watson Wyatt has about 7,500 employees and operates in 33 countries, while Towers Perrin has more than 6,300 employees and operates in 26 countries.


The two firms are especially well known for their expertise in retirement plan and health care consulting. In addition, Towers Perrin offers risk management and reinsurance brokerage services.


“We look forward to completing this transaction, which will create a leading global professional services firm with an enhanced portfolio of services across a range of financial, risk and people management areas,” Watson Wyatt CEO John Haley said in a statement. Haley will be CEO of the combined company.



Filed by Jerry Geisel of Business Insurance, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.


Stay informed and connected. Get human resources news and HR features via Workforce Management’s Twitter feed or RSS feeds for mobile devices and news readers.



 

About Workforce.com

blog workforce

We build robust scheduling & attendance software for businesses with 500+ frontline workers. With custom BI reporting and demand-driven scheduling, we help our customers reduce labor spend and increase profitability across their business. It's as simple as that.

Book a call
See the software

Related Articles

workforce blog

Employee Engagement

12 practical employee appreciation ideas for better engagement and retention

Summary Showing appreciation to your employees improves engagement and retention. There are 12 practica...

employee appreciation, engagement, HR, raccoons

workforce blog

Compliance

California fast food workers bill: why it’s more than meets the eye and how to prepare

Summary: California signs bill establishing a “fast food council” that has the power to raise the indus...

workforce blog

Employee Engagement

7 statistics on employee turnover in 2022 every HR manager should be aware of

Summary July 2022 saw 5.9 million total separations – More Replacing a full-time employee can cost up t...

employee retention, employee turnover