US - Watson Wyatt Worldwide has reported a 15% year on year increase on revenues for the third quarter of fiscal year 2007, topping US$395.6m.
Despite only making up 9% of total revenues, the Investment Consulting Group increased inflows by 44% to $34.3m. This was put down to strong demand for investment strategy advice and manager selection.
President and CEO, John Haley, commented: “All the focus on pensions and related strategies fuelled our growth and demand for compensation services is still strong across the board.”
The consultants estimated revenues will top $1.48bn, up from the previous guidance of $1.43bn to $1.46bn following these recent results.
The company’s revenues grew 36% in the first quarter compared to the same time period the previous year.
In the same quarter, total revenues of US$27.4m were achieved by the Investment Consulting Group, representing 8% of total revenues for the quarter, which were themselves up 11%.
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