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
Clime’s disposal of advice licensee Madison “needed to happen yesterday”, managing director Michael Baragwanath has told Money Management, as he concludes a severe cost-out period at the business.
As Viola Private Wealth continues on its growth trajectory, the wealth management firm has appointed a seasoned investment professional to be its first chief investment officer.
Financial advisers who wish to implement artificial intelligence in their practices need to undergo a change in their mindset as to how they use technology.
With United Global Capital expected to constitute a substantial portion of CSLR compensation in FY25–26, what has AFCA ruled in its determinations on the company so far?
