Aon Consulting, the benefits and human capital consulting business of Aon, has signed an agreement to acquire JP Morgan compensation and benefit strategies, a division of JP Morgan Retirement Plan Services.
Tthrough the deal, Aon Consulting enhances its benefits consulting intellectual capital in areas including pension actuarial and advisory services. The expertise extends nationwide, with offices in 13 markets, such as New York, Boston, Chicago, St Louis, Dallas, Denver, Los Angeles and San Francisco. The transaction is expected to close by March 31, 2010.
Kathryn Hayley, CEO of Aon consulting, said: “Aon continues to invest in the industry’s best talent and innovative solutions to serve clients with distinction. The combination of exceptional talent joining our firm and a strong client base makes this acquisition an ideal strategic fit for Aon Consulting.”
“With this acquisition, we strengthen our geographic presence in key markets, adding approximately 150 new colleagues nationwide with deep technical knowledge, complementing our global team in providing employee benefit program solutions and services in areas such as complex union negotiations, benefit reimbursements for government contracts, and benefit issues unique to law firms and other professional services firms.”
JP Morgan compensation and benefit strategies is a provider of compensation, retirement and health care actuarial services, with expertise in compliance, financial modeling and other key actuarial-based solutions related to employee benefits plan designs.