Watson Wyatt completes acquisition of German consulting firm Heissmann

Global consulting firm Watson Wyatt Worldwide has completed its acquisition of Heissmann, Germany's premier consultants in actuarial, benefits and human resources. All Watson Wyatt's and Heissmann's business activities in Germany will
now be under the new name of Watson Wyatt Heissmann.

With this acquisition Watson Wyatt has acquired the operations of Dr Dr. Heissmann GmbH in Germany, including its subsidiaries in Ireland, the Netherlands, France and Austria.

Babloo Ramamurthy, Watson Wyatt's European region manager, said, "Heissmann is an excellent strategic and cultural fit for Watson Wyatt. Bringing the two organizations together takes Watson Wyatt's position in Europe to the next level, enhancing our ability to service our clients as well as creating excellent opportunities for all our consultants."

The purchase of Heissmann is Watson Wyatt's second significant acquisition in Europe this year; the company acquired Watson Wyatt Brans & Co, its long- time partner in the Netherlands, in February. Watson Wyatt also recently announced its intention to establish a joint venture with Institut fur Finanz und Aktuarwissenschaften (ifa), a leading German
insurance consultancy. Watson Wyatt now has 2,900 associates in Europe, located across 13 countries in Europe and the U K.

"This is great news for Watson Wyatt, Heissmann, our clients and our associates in both firms," said John Haley, president and chief executive officer of Watson Wyatt. "The integration of the two firms enhances our strong position in Europe for financial and human capital management consulting."

Headquartered in Wiesbaden and established in 1955, Heissmann employs a staff of 360, including 300 people in Germany. The firm has total annual revenues of more than 50 million euros.

"The global consulting strength of Watson Wyatt has grown rapidly in recent years, and we are excited at the prospect of being part of that global expansion," said Boy-Jurgen Andresen, previously managing director of Heissmann and now managing director of Watson Wyatt Heissmann in Germany. "Becoming part of Watson Wyatt provides considerable benefits not only for our operations but, more importantly, for our clients."