Fiduciary Group Buys Aon's Fiduciary Counselors

July 9, 2003 ( - Aon Corporation's wholly owned subsidiary Fiduciary Counselors Inc. has been purchased by Washington, DC-based Fiduciary Group.

Fiduciary Counselors is a registered investment adviser that acts as an independent fiduciary for pension plans in the United States. Nell Hennessy (See  Movements: Company Stock ), former deputy executive director and chief negotiator of the Pension Benefit Guaranty Corporation (PBGC), will continue to head the company, according to a news release.

Hennessy and Fiduciary Counselors are no strangers to the spotlight of high profile employer stock independent fiduciary transactions.   In the past five years, the company has acted in that capacity for such companies as USAirways ( See  Aon Move Cushions Bankruptcy Impact on USAir Workers ) , United Airlines (See  UAL Calls in Independent Company Stock Fiduciary ), Northwest Airlines and Federal-Mugul Corp.

Terms of the deal were not disclosed.