Willis Ireland is set to acquire Irish pension and financial advisory businesses from IFG Group, for an undisclosed amount.
As part of the deal, Willis will acquire pensions consultancy and administration business IFG, as well as financial advisory companies Retirement Strategies and IFG Private Clients.
The deal also includes purchase of professional trustee company Planlife Trustee Services and trade credit broking business Trade Credit Brokers.
The acquisition, which is still subject to regulatory approval, will help Willis Ireland to expand its existing pensions business and financial and wealth-planning services to individuals.
Willis noted that around 100 employees will be added from the acquired businesses, which include professional trustees and investment, pensions and wealth management specialists.
The transaction , according to Willis.
Willis Western Europe regional CEO Alberto Gallego said: "We are widely recognised in Ireland as being a market leader in pension solutions, and our existing offering around defined contribution pensions will get a boost from IFG’s added expertise."
Willis Ireland CEO Brian Curtis said the company was at the forefront of the Irish market for many decades, specialising in both defined benefit and defined contribution pensions.
"This acquisition reinforces Willis’ position by complementing and strengthening our current business. The addition of such a high calibre team of experts further enhances our service to existing and future clients," Curtis added.
Willis Group operates on all continents with around 18,000 employees in more than 400 offices.
Image: Willis to acquire Irish pension and financial advisory businesses from IFG Group. Photo: courtesy of tungphoto/ FreeDigitalPhotos.net.