HEWITT ASSOCIATES  TOWERS PERRIN  WATSON WYATT

Singapore - The HR consultancy field is now seeing a consolidation of businesses, with Towers Perrin and Watson Wyatt recently announcing plans to merge. Meanwhile, Hewitt Associates adopts a one-market operating model in Southeast Asia.

The merger between Towers Perrin, Watson Wyatt and Forster & Crosby will form a new group called the Towers Watson & Co, with shares divided equally between shareholders of Towers Perrin and Watson Wyatt.

John Haley, chief executive of Watson Wyatt who will serve as the new chief executive of the merged company, says this "will create one of the world's leading professional services firms, well positioned for sustained growth and profitability across all geographies and business segments".

According to Financial Times, the new group is expecting an annual revenue of more than US$3 billion (S$4.3 billion).

Meanwhile, Hewitt Associates' one-market model will allow the company to maximise the strengths and capabilities of their talent across Southeast Asia, and focus more on delivering the best quality to its clients.

"We recognised that internal transformation is required to strengthen and improve the high impact for our clients that comes on the back of a more synergized and leveraged model, " says Kulshaan Singh, business leader of performance and rewards for Hewitt SEA.

With the new model, countries namely Indonesia, Malaysia, Philippines, Singapore and Thailand, will see their business managed under two streams - Performance & Rewards, and Leadership and Engagement/Culture. These areas will be supported by an Actuarial, Base Compensation and Research Center, and a Client Delivery Centre managed out of Kuala Lumpur.

The new model for Hewitt will take place in October later this year.

________________________________________________________

 More quality Lighthouse titles

Get your marketing department up to speed with Asia's most read marketing site
marketing-interactive.com

Want to get on the right side of the procurement department?
Direct them to Procurement Asia