Hewitt Associates, a global human resources consulting and outsourcing company, today announced it has completed its acquisition of EnnisKnupp, a leading provider of investment advisory services to large institutional investors. As a combined entity, Hewitt EnnisKnupp now becomes one of the largest providers of investment consulting services in the U.S. and in the world, with $3 trillion in assets under advisement globally.
Hewitt EnnisKnupp's 200 investment professionals in the U.S. currently serve nearly 300 clients from offices in five major U.S. cities. By the end of 2010, the business will open an additional office in Newport Beach, CA in response to growing client demand in the region.
"We've hit the ground running with our integration plans," said Steve Cummings, leader 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."
On July 12, Hewitt announced it had entered into a definitive agreement to merge with Aon Corporation. 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.
Hewitt announced its intent to acquire EnnisKnupp on July 20, 2010. Financial terms of the agreement were not disclosed.
About Hewitt Associates
Hewitt Associates provides leading organizations around the world with expert human resources consulting and outsourcing solutions to help them anticipate and solve their most complex benefits, talent, and related financial challenges. Hewitt works with companies to design, implement, communicate, and administer a wide range of human resources, retirement, investment management, health care, compensation, and talent management strategies. With a history of exceptional client service since 1940, Hewitt has offices in more than 30 countries and employs approximately 23,000 associates who are helping make the world a better place to work. For more information, please visit www.hewitt.com.