Watson Wyatt to Team up with German Consultant

Global consulting firm Watson Wyatt Worldwide announced plans to conclude a “strategic alliance” with German consultants Institut fur Finanz- und Aktuarwissenschaften (ifa), effective January 1, 2008.

“According to the letter of intent, Watson Wyatt plans to acquire 20 percent of ifa’s operations; in turn, Watson Wyatt’s German insurance consultancy will be integrated into ifa,” said the announcement. “The alliance strengthens Watson Wyatt’s position in the German insurance consulting market and it provides ifa and its clients access to Watson Wyatt’s international network.”

Philip Brook, global head Watson Wyatt’s insurance and financial services consulting, said he was “delighted” with the arrangement and indicated it would enable the firm “to become a prominent player in the German insurance consulting market.”

Hans-Joachim Zwiesler, co-founder of ifa, observed that his firm has worked successfully with Watson Wyatt on “various joint projects,” through which ifa’s clients “were able to profit from their international network.”

“This alliance follows on from Watson Wyatt’s recent announcement that it intends to acquire Heissmann, Germany’s premier firm of pensions, benefits and human resources consultants,” the bulletin noted.