Charles Monat to buy Willis Towers Watson's global wealth solutions unit

Insurance broker Charles Monat Associates (CMA), which has a prominent presence in Asia, has agreed to a management buyout (MBO) to acquire 100 percent of the global wealth solutions business of Willis Towers Watson.

Following the transaction, WTW and CMA will enter into a global arrangement to ensure that global wealth solutions clients have access to a global platform to service them on a worldwide basis, the company said.

The domestic business of global wealth solutions, which comprises the EU domestic offering, will be operated through the global network of WTW. As part of the MBO, CMA will continue to have access to the range of human capital and risk management specialist services of WTW.

"Willis Towers Watson supports the CMA management team’s vision for its future growth," said Adam Garrard, head of international at WTW. "CMA is a leader in this unique client segment because of its rich history in Asia and beyond.

"Willis Towers Watson is pleased to have agreed an ongoing business relationship with CMA which we believe gives our respective clients access to one of the most unique insurance offerings in the market."

Following the MBO, Charles Monat Associates will have over 130 employees worldwide with offices in Hong Kong, Singapore, Miami, Zurich and Liechtenstein. Its Global CEO Yves Guélat stated that the deal will create a unique business structure for servicing the increasingly complex financial needs of wealthy families and businesses.

"CMA is a highly evolved business with a 46-year history. We work with some of the wealthiest families via our offices in Asia and around the world," Guélat said. "As an independent firm with an ongoing business relationship with Willis Towers Watson, we will be even better positioned to deliver wealth protection strategies catering to the very specific needs of our high net worth individual clients."

Charles Monat, chairman and founder of the company, added: "I am delighted to be part of the company’s growth and expansion and pleased to see the firm continue to serve several generations of clients worldwide."

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