Willis acquires Russell Investments' actuarial business in Australia

Willis Towers Watson’s grows its role as a provider of actuarial consulting solutions in Australia by entering a definitive agreement to acquire Russell Investments' Australian actuarial practice.

The acquisition is expected to close in March 2017.

"This acquisition will further cement Willis Towers Watson’s position as a leading provider of actuarial consulting solutions in Australia," the company said in a statement.

Andrew Boal, regional head of Australasia for Willis Towers Watson, said: "Providing a broad range of superannuation and actuarial services is the core purpose of our retirement team in Australia. The combination of our teams will strengthen our value proposition for all our clients, by providing a wider and deeper range of expertise and service that covers both traditional and new retirement and analytic solutions."

"The move reinforces Russell Investments' unrelenting focus on our asset management business, including master trust solution and implemented consulting," said Pete Gunning, CEO for Russell Investments' business in the Asia Pacific region.

"The agreement also ensures this specialist practice will continue to grow under its new ownership and associates in the practice will continue to be provided with strong career opportunities."

Brad Jeffrey, head of Willis Towers Watson's retirement business in Australasia, said: "We are excited that the Russell Investments actuarial team is joining us, and are confident that the combination of the two teams will be seamless and beneficial for our collective clients and staff."

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