Hewitt Takes Ownership of German Partnership

July 2, 2009 (PLANSPONSOR.com) - Hewitt Associates has acquired the remaining interest in BodeHewitt AG & Co KG, a German pensions and benefits consulting specialist, from Bayerische Hypo- und Vereinsbank AG (HVB).

According to a press release, BodeHewitt has operated as a joint venture since 2005, providing corporate pension services to both trustees and management of German and international companies while expanding the business substantially. The business becomes Hewitt’s German Retirement and Financial Management (RFM) consulting practice and will be jointly led by Olaf Petersen and Georg Thurnes, both currently board members of BodeHewitt.

Niels Rasmussen continues as managing director of Hewitt Associates in Germany.

Together, BodeHewitt and Hewitt will have 230 associates working from offices in Munich, Stuttgart, and Wiesbaden. BodeHewitt is the leading benefits consulting firm in Germany, advising more DAX30 companies than any other firm, the announcement said. It also serves as the actuary to many mid-size and smaller companies, as well as a variety of other pension schemes in Germany.

“We are delighted that BodeHewitt is now wholly-owned by Hewitt Associates. Germany is a key market for us and this further strengthens our ability to serve our increasingly global clients with a top tier presence in all major countries,” said Yvan Legris, president Global Consulting at Hewitt, in the announcement.