Watson Wyatt and Towers Perrin to merge
Towers Perrin, Forster & Crosby and Watson Wyatt Worldwide have announced plans to merge to form a new entity, Towers Watson & Co.
The implied equity value of the transaction will be around $3.5 billion with the new entity expected to have annual revenues in excess of $3 billion.
The new entity will be headed by Watson Wyatt’s chief executive John Haley while Towers Perrin chief executive Mark Mactas will serve as president.
Haley said the combined entity would offer its clients a bigger range of services across financial, risk and people management.
Towers Watson will operate in four geographic regions: North America, EMEA (Europe, Middle East and Africa), Asia-Pacific and Latin America.
The merger is subject to the approval of the shareholders of both companies.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
