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."
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