US - The Segal Company has acquired Aon Consulting's multiemployer defined benefit plan and related consulting business in the US.
The acquisition, for an undisclosed sum, covers about 60 defined benefit plans across a range of industries throughout the country.
The move also sees two former Aon employees, senior vice president and senior consultant Samuel Stanley and associate actuary Paul Duling, move across to Segal to help manage the new clients.
Segal president and CEO Joseph LoCicero said: "We welcome these new clients to our firm. We are confident that our deep knowledge and expertise with multiemployer plans and our extensive resources dedicated to multiemployer plans will enable us to provide them with the highest quality and most innovative services."
Senior vice president and national director of multiemployer consulting
David Blumenstein added: "This transaction demonstrates our ongoing dedication to multiemployer plans, their labour and management sponsors and to the millions of people covered in these plans. We are proud of our continuing leadership, a commitment that has spanned more than 70 years."
Aon was not immediately available for comment.
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