The Aon and Hewitt brands will be merged in the New Year, following the completion of the merger of the two organisations announced in Chicago on Friday.
But Manchester United shirts will continue to be branded Aon, reflecting the group identity, which incorporates Aon Hewitt, Aon Benfield and Aon Risk Solutions.
No decisions have yet been made on who will head up the UK arm of Aon Hewitt.
Aon Hewitt has revenues of $4.3 billion and 29,000 colleagues globally. Combined revenues for fiscal year 2009 consist of 49 per cent from consulting services, 40 per cent from benefits administration and 11 per cent from HR business process outsourcing, across 120 countries around the world.
Aon Hewitt says a diversified presence across large corporate and middle market will provide significant cross-selling opportunities to leverage Hewitt’s predominantly large corporate client base with Aon’s predominantly middle market client base.
The organisation says the transaction is expected to generate approximately $355 million in annual cost savings in 2013, primarily from reduction in back-office areas, public company costs, management overlap and leverage of technology platforms.
Greg Case, president and chief executive officer of Aon says: “The completion of this merger marks yet another important milestone in the history of Aon and is an industry-changing event that will create new standards in the human capital space.
“Through Aon Hewitt, we will provide our clients with a broader portfolio of innovative products and services focused on what we believe are two of the most important topics facing today’s global economy – risk and people.”
Russ Fradin, chairman and chief executive officer of Aon Hewitt, says: “As Aon Hewitt, we are a stronger, more global industry leader, bringing innovative solutions and insights to organisations wherever they do business. Our focus remains constant—to serve clients exceptionally well every day. Clients can be confident Aon Hewitt has the expertise and experience to serve as a true partner, helping them with their most pressing business challenges.”