Professional services firm Towers Watson has opened a new office in Turkey, establishing Towers Watson Danışmanlık Ltd. Şti as an Istanbul-headquartered subsidiary aiming to cater for what the company calls a large and rapidly-growing economy.

Announcing the expansion, Towers Watson said it has been working with clients in Turkey for the past 10 years, providing professional services including risk consulting, talent and reward and benefits consulting services.

The move follows Towers Watson's recent acquisition of EMB, a non-life consulting and software company, and the signing of a definitive agreement to increase its stake in Fifth Quadrant, the independent South African actuarial and employee benefits consultancy, to more than 50% within the next year.

Süha Alıcı has been appointed as managing consultant to lead and grow the new business.

Alıcı said the increasing number of multinational companies that have established businesses in Turkey recently, combined with the large number of local companies keen to adopt global best practice in many industry sectors, makes Turkey a very attractive market in which to do business.

Regional manager EMEA for Towers Watson Babloo Ramamurthy said: “Turkey is now a large and rapidly-growing economy with an increasing demand for the services we offer. The opening of our new office in Istanbul is a significant step towards providing the full range of services that our growing client base there requires.”

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