Babloo Ramamurthy has been named as European region leader of Towers Watson, the company formed from the merger of Towers Perrin and Watson Wyatt, which was completed today.
Ramamurthy’s new role at Towers Watson is identical to the one he held at Watson Wyatt.
The new managing consultant for Towers Watson in the UK is Simon Gilliat, formerly head of Watson Wyatt’s global consulting practice.
John Ball, formerly of Watson Wyatt, becomes head of UK and Ireland defined benefit consulting. Other former Watson Wyatt figures taking key roles include David Cross, head of general consulting, Kevin Stratford, head of defined contribution consulting, Jamie Winter, head of healthcare and risk consulting, Mick Calvert, head of financial planning and Martin Pike, European head of risk consulting and Software (RCS).
From the Towers Perrin side, Jacqueline Otten becomes head of flex consulting and Andy Aldridge takes the role of UK head for RCS.
Paul Trickett has been named as European head for investment consulting.
The new Towers Watson business will be headquartered in New York City, and former Watson Wyatt chief executive John Haley will serve as Towers Watson’s chairman and chief executive. Former Towers Perrin chief executive Mark Mactas will serve as deputy chairman, president and chief operating officer.
The merger brings staff numbers in the UK to about 2750 people, with around 2,000 coming from Watson Wyatt and 750 from Towers Perrin.
In the UK, there are currently 11 offices – two in London (one in Westminster, former Watson Wyatt; one in Holborn, former Towers Perrin). The firm’sReigate office, holding nearly 1,000 people, is now Towers Watson’s largest office globally.
The merger follows receipt of regulatory authorisations and approval of the transaction by the companies’ respective shareholders on December 18, 2009. Towers Watson’s Class A common stock will be listed on both the New York Stock Exchange and NASDAQ as of today, when trading of Watson Wyatt’s Class A will be discontinued. Based on the closing price of Watson Wyatt common stock on December 31, 2009, the implied value of the transaction is US$4bn.
“We are delighted to finalise the merger and look forward to bringing a broader portfolio of services to our clients,” said John Haley. “When it comes to managing costs, risks and people, the world is growing more complex every day. Towers Watson is uniquely positioned to help our clients gain the perspective necessary to take the right actions to drive business results.”
“Towers Watson builds on shared values of integrity, professional excellence and collaboration with a strong clients-first orientation,” said Mark Mactas. “With our combined experience, and breadth and depth of skills, we will be able to provide greater insight as we work with our clients and greater opportunities for our people and our shareholders.”