UK - Towers Perrin has laid off 10 people from its financial planning group, including group head Robert Ivey.
The redundancies follow a review of the consultant’s UK employee benefits services business.
An inside source has revealed that business had dried up for the financial planning group – which deals with products such as stakeholder and group personal pensions – and the job losses were part of a cost-cutting exercise at the firm.
A spokeswoman said: “Towers Perrin’s commitment to the Financial Planning Group and the services it provides remains unchanged and will not result in any change to the service we provide to our clients.”
As part of the restructure Nigel Odling will become the group’s new practice leader.
Odling has worked within Towers Perrin for more than five years.
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