The acquisition sees Willis Towers Watson expand its retirement team by 22 people across Sydney and Melbourne, bringing an additional 50 clients with them, the firm said.
“Our acquisition of the Russell Investments actuarial team is evidence of our commitment to, and willingness to invest in actuarial services,” said Willis Towers Watson Australasian head of retirement Brad Jeffrey.
“Our new consultants bring new points of view and skill sets in both traditional actuarial work and analytic solutions. We’re also looking forward to sharing many of our ideas and solutions with their clients, including our approaches to assessing retirement adequacy, undertaking innovative modelling, communicating with members and producing retirement income estimates for members.”
Willis Towers Watson signed a definitive agreement to acquire Russell Investments’ actuarial business in February, at which time Russell Investments’ chief executive Pete Gunning said the deal “ensures this specialist practice will continue to grow under its new ownership”.
Read more:
Australian institutions warming to ETFs
New ASIC guidance released for REs
Legg Mason hires key account manager
HHV shareholders advised to reject WAM offer
Government closes client money loophole
