4/1/2010
By Francesca Fabrizi
Towers Perrin and Watson Wyatt have finally completed their merger, first announced in June last year, to create a global professional services company to be known as Towers Watson.
The $4 billion merger was finalised on 3 January 2010, with the newly created entity aiming to combine the experience, breadth and depth of skills of both firms in the areas of employee benefits, talent management, rewards, risk and capital management.
Watson Wyatt Chief Executive Officer, John Haley, who will serve as Towers Watson's Chairman and Chief Executive Officer, said of the merger: "When it comes to managing costs, risks and people, the world is growing more complex every day. Towers Watson is uniquely positioned to help our clients gain the perspective necessary to take the right actions to drive business results."
Towers Perrin Chief Executive Officer, Mark Mactas, will serve as Deputy Chairman, President and Chief Operating Officer of the firm, which has 14,000 associates around the world.
Towers Watson Class A common stock will be listed on both the New York Stock Exchange and NASDAQ under the ticker symbol "TW", from today. As a result of the transaction, Towers Watson expects to issue approximately 46.9 million shares of Class A common stock, as well as 29.5 million shares of Class B common stock.
