Posted on 19 Mar 2010
Aon Consulting, the global benefits and human capital consulting business of Aon Corporation, today announced it has signed a definitive agreement to acquire J.P. Morgan Compensation and Benefit Strategies, a division of J.P. Morgan Retirement Plan Services, LLC.
J.P. Morgan Compensation and Benefit Strategies is a leading provider of compensation, retirement and health care actuarial services, with significant expertise in compliance, financial modeling and other key actuarial-based solutions related to employee benefits plan designs.
"Aon continues to invest in the industry's best talent and innovative solutions to serve clients with distinction," said Kathryn Hayley, CEO of Aon Consulting. "The combination of exceptional talent joining our firm and a strong client base makes this acquisition an ideal strategic fit for Aon Consulting."
Through this deal, Aon Consulting enhances its benefits consulting intellectual capital in key areas, including pension actuarial and advisory services. This expertise extends nationwide, with offices in 13 markets, such as New York, Boston, Chicago, St. Louis, Dallas, Denver, Los Angeles and San Francisco.
"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," said Hayley. "This will be a seamless transition for current J.P. Morgan Compensation and Benefit Strategies clients, and will open up new opportunities and arenas of expertise for them and our existing Aon Consulting clients."
The transaction is expected to close by March 31, 2010. Financial terms of the deal were not disclosed.