Willis Towers Watson acquires Russell actuarial practice
Willis Towers Watson is to acquire Russell Investments' Australian actuarial practice.
The transaction was confirmed to the market today, with the two firms saying they had signed a definitive agreement.
Willis Towers Watson said the transaction confirmed its position as a market leader in providing actuarial services and employee benefits consulting in Australia.
Commenting on the deal, Willis Towers Watson regional head of Australasia, Andrew Boal said the combination of the two team would strength the firm's value proposition by providing clients with a wider and deeper range of expertise and service.
The announcement said the deal covers 22 staff and over 50 clients spanning the Corporate, Government, Master Trust, and Industry Fund sectors.
The acquisition is expected to close in March 2017. Terms of the transaction were not disclosed.
Recommended for you
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
Responsible investment performance concerns have lessened as the market hits $1.6 trillion in AUM, according to RIAA’s annual report, but greenwashing fears among asset managers are on the rise.
