Towers Watson has cemented its presence in the Nordic region with the acquisition of Swedish-based consultancy, HRS.

The move, said Towers Watson, will help the firm build its brand in Sweden and the Nordic region, while assisting the firm in realising its strategy of expanding the services it currently offers to its Nordic clients.

Founded in 1992, HRS specialises in executive compensation and employee rewards, but also offers pension design and global co-ordination, performance management, compensation benchmarking and market analysis.

Babloo Ramamurthy, regional manager, EMEA for Towers Watson told European Pensions: “HRS had a long established relationship with Towers Perrin before the firm’s merger with Watson Wyatt, so we are just cementing that relationship as part of our growth strategy in the region.

“Following the acquisition, we will have some 30 people based in the Stockholm office and therefore feel we will be in a stronger position to offer the three services of risk consulting, talent rewards and benefits consulting to this key area of the market.” Ramamurthy also confirmed there would be no headcount reduction.

Ake Flintull, former managing partner of HRS and now managing consultant of Towers Watson services in Sweden, said: "I am personally delighted to align our firm with a company that is so strongly committed to quality, innovation and excellence in client service. I believe both our clients and our staff will benefit from this transaction."

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