US - Hewitt Associates has completed its previously announced acquisition of US consulting firm Ennis Knupp.
The new Hewitt EnnisKnupp boasts $3trn globally in assets under advisement.
Hewitt originally went public with its plans to acquire EnnisKnupp in late July saying the deal would allow it to move forward with its global growth plans and gain a greater foothold in the US market. (Global Pensions; July 20, 2010)
"We've hit the ground running with our integration plans," said Steve Cummings, head of Hewitt EnnisKnupp.
"Our investment professionals are working to pool their expertise and knowledge to meet the needs of a broader range of clients, while maintaining the highest levels of independence and integrity. Clients from both organizations are equally enthusiastic, and they are eager to take advantage of the global reach and expanded suite of services that our newly combined organization will offer," he added.
On July 12, Hewitt and Aon Consulting announced they would merge in a $4.9bn deal. (Global Pensions; July 12, 2010)
Today Hewitt said: "Aon intends to integrate Hewitt-including Hewitt EnnisKnupp-with its existing human capital operations (Aon Consulting) and operate the segment globally under a newly created Aon Hewitt brand. More information will be available upon close of the Aon Hewitt transaction."
The Pensions Regulator (TPR) has set out plans to use "new regulatory initiatives" with over 1,000 schemes as it aims to tighten its regulatory grip and boost member outcomes.
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
This week's top stories include an article on climate activists from Extinction Rebellion crashing the PLSA's local authority conference, and an in-depth piece on the Court of Appeal's ruling on the BIC UK Pension Scheme case.
Engagement in pensions is rising but there are still a number of barriers to overcome. Natanje Holt looks at the key issues that need to be tackled