Hewitt EnnisKnupp Hits the Ground Running
September 2, 2010 (PLANSPONSOR.com) – Hewitt Associates has completed its acquisition of EnnisKnupp, a provider of investment advisory services to large institutional investors.
Hewitt announced its intent to acquire EnnisKnupp on July 20, 2010 (see Hewitt Inks Deal to Acquire EnnisKnupp), fast on the heels of a July 12 announcement that the consultancy had entered into a definitive agreement to merge with Aon Corporation (see Hewitt Associates, Inc. to Merge with Aon Corporation).
Today the firm announced that Aon intends to integrate Hewitt—including Hewitt EnnisKnupp—with its existing human capital operations (Aon Consulting) and operate the segment globally under a newly created Aon Hewitt brand.
While the organization’s new name may not exactly roll off the tongue, as a combined entity, Hewitt EnnisKnupp now becomes one of the largest providers of investment consulting services in the U.S. and in the world, with $3 trillion in assets under advisement globally, according to the firm.
Hewitt EnnisKnupp’s 200 investment professionals in the U.S. currently serve nearly 300 clients from offices in five major U.S. cities. By the end of 2010, the business will open an additional office in Newport Beach, California, in response to growing client demand in the region, according to the announcement.
“We’ve hit the ground running with our integration plans,” said Steve Cummings, leader of Hewitt EnnisKnupp. “Our investment professionals are working to pool their expertise and knowledge to meet the needs of a broader range of clients, while maintaining the highest levels of independence and integrity. Clients from both organizations are equally enthusiastic, and they are eager to take advantage of the global reach and expanded suite of services that our newly combined organization will offer.”
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