Towers Perrin was a professional services firm specialising in human resources and financial services consulting, which merged in January 2010 with Watson Wyatt to form Towers Watson. The firm was a provider of reinsurance intermediary services, and are active in the actuarial consulting arena with their Tillinghast insurance consulting practice.
Towers Perrin is one of the world's largest management consultant firms, serving about 10,000 clients, among them some 65 percent of the world's largest companies. It has more than 70 offices in 24 countries. The company operates in five fields: human resources and general management consulting; employee benefit services; health industry consulting; reinsurance; and financial services and risk management. The firm is owned by its executives and other principal employees.
Towers Watson & Co. (Towers Watson), incorporated on February 17, 1958, is a global professional services firm focused on providing consulting and other professional services related to employee benefits, human capital and risk and financial management. It provides advisory services on critical human capital management issues to help its clients manage their costs, talent and risk. It offers its clients services across three business segments: Benefits, Risk and Financial Services, and Talent and Rewards. Towers Watson was formed on January 1, 2010, from the merger of Towers, Perrin, Forster & Crosby, Inc. (Towers Perrin) and Watson Wyatt Worldwide, Inc. (Watson Wyatt). In January 2011, the Company acquired Aliquant, full service health and welfare benefits administration outsourcing firm.
The Company helps its clients improve business performance by improving their ability to attract, retain and motivate employees and to manage and mitigate risk. It focuses on delivering consulting services and technology solutions to help organizations anticipate, identify and capitalize on emerging opportunities in benefits and human capital management. It also provides independent advice and risk management solutions to insurance companies and corporate clients, as well as investment advice to help its clients develop disciplined and efficient strategies to manage risk and meet their investment goals.
Benefits segment
The Benefits segment provides benefits consulting and administration services through four primary lines of business. Retirement supports organizations worldwide in designing, managing, administering and communicating all types of retirement plans. Health and Group Benefits provides advice on the strategy, design, financing, delivery, ongoing plan management and communication of health and group benefit programs. Through its Technology and Administration Solutions line of business, the Company delivers cost-effective benefit outsourcing solutions. The International Consulting Group provides expertise in dealing with international human capital management and related benefits and compensation issues for its clients and their subsidiaries.
The Company’s retirement consulting services include retirement strategy and plan design; actuarial services and related support; retirement financial management; settlement solutions; compliance and governance strategies; risk management, and defined contribution solutions. Its global services include program strategy, design and pricing; health condition management consulting; pharmacy benefit management consulting; workforce well-being evaluation and wellness and health promotion consulting; performance measurement and monitoring; development of funding strategies and forecasting, budgeting and reserve setting; vendor evaluation, selection and management, and claims audits and pre- and post-implementation audits.
Risk and Financial Services segment
The Risk and Financial Services segment has three primary lines of business. Risk Consulting and Software provides the insurance industry with consulting and industry-specific software solutions that range from asset-liability modeling and product development to economic capital aggregation and allocation. Reinsurance and Insurance Brokerage principally provides reinsurance brokerage services. Investment Consulting and Solutions provides investment strategy consulting and solutions for institutional investors, primarily to defined benefit and defined contribution pension plans.
Talent and Rewards segment
The Talent and Rewards segment has three primary lines of business. Executive Compensation advises its clients’ management and boards of directors on executive pay and incentive programs. Rewards, Talent and Communication provide consulting on a number of issues facing employers, including employee rewards (pay and incentives), talent management, employee communication and change management. Data, Surveys and Technology provides data, analytics, consulting and technology solutions, such as compensation and human capital benchmarking data, employee opinion surveys, and reward administration and talent management technology, to help employers manage their employees and human resources programs.
The Company competes with Marsh & McLennan company, Aon company, Deloitte, Accenture, Willis and PricewaterhouseCoopers.
Towers Perrin's human resources and general management consulting unit was offering services in four broad categories in 1999: business strategy, in which the firm often was called upon to help define, clarify, or implement business strategy on an organizational, business unit, or functional level; organizational strategy, which it said called for evaluating every component process through the filter of business strategy to make sure that strategy, structure, and processes were closely interwoven; people strategy, which called for understanding the roles people play in each business situation and making investments in people appropriate to those roles; and change management, intended to help firms learn how to embrace rather than resist change and to implement practices and processes that keep people engaged, productive, and focused on business results.
Towers Perrin's employee benefit services fell into three broad categories: benefit strategy, plan management, and benefit administration. The health industry consulting unit was serving health systems, physician organizations, insurers, and health plans in every U.S. market.
Tillinghast-Towers Perrin was providing management consulting to the financial services industry worldwide. This field of consulting was divided into financial services, property/casualty insurance, risk management, and health insurance. Towers Perrin Reinsurance was providing reinsurance intermediary services and consulting expertise that focused on the creative blending of traditional and nontraditional risk transfer vehicles. Towers Perrin also was offering an array of publications on topics relevant to its activities, many of them in the form of newsletters.
Principal Divisions: Tillinghast-Towers Perrin; Towers Perrin; Towers Perrin Reinsurance Co.
Principal Competitors: Booz Allen & Hamilton Inc.; McKinsey and Company Inc.; Mercer Consulting Group Inc.; Moritz Inc.
OVERALL
Beta: 0.61
Market Cap (Mil.): $4,696.37
Shares Outstanding (Mil.): 74.56
Annual Dividend: 0.30
Yield (%): 0.48
FINANCIALS
TW Industry Sector
P/E (TTM): 23.02 12.45 18.80
EPS (TTM): 42.02 -- --
ROI: 5.62 6.49 4.19
ROE: 8.91 8.62 7.33
Statistics:
Private Company
Incorporated: 1934 as Towers, Perrin, Forster & Crosby, Inc.
Employees: 8,400
Sales: $1.23 billion (1998)
NAIC: 541611 Administrative Management & General Management Consulting Services
Key Dates:
1934: Founding of Towers, Perrin, Forster & Crosby.
1950: TPF & C has grown ninefold in sales since its founding.
1982: Company acquires Cresap, McCormick and Paget.
1986: Acquisition of Tillinghast, Nelson & Warren.
1987: Company name is shortened to Towers Perrin.
1997: Towers Perrin ranks second in size among employee benefit consultants and seventh among actuarial firms.
Name Age Since Current Position
John Haley 61 2010 Chairman of the Board, Chief Executive Officer
Mark Mactas 2010 Deputy Chairman of the Board, President, Chief Operating Officer
Roger Millay 52 2010 Chief Financial Officer
Anne Bodnar Chief Administrative Officer
Walter Bardenwerper 58 2010 General Counsel, Head - Legal Affairs
Tony Candito Head - Information Technology
Sharon Clark Head - Marketing
Tricia Guinn Head - Risk and Financial Services
Steve Mele Head - Human Resources
Gene Wickes 56 2010 Member of the Management Board
Bob Charles Member of the Management Board
Jim Foreman Member of the Management Board
Julie Gebauer Member of the Management Board
Gordon Gould Member of the Management Board
Luiz Gouvea Member of the Management Board
Babloo Ramamurthy Member of the Management Board
John Gabarro 70 1999 Director
Gilbert Ray 66 2000 Director
Linda Rabbitt 60 2002 Director
Brendan O'Neill 62 2006 Director
Victor Ganzi 64 2010 Director
Mark Maselli 48 2010 Director
Paul Thomas 53 2010 Director
Wilhelm Zeller 66 2010 Director
Betsy Atkins 55 2010 Director
Address:
335 Madison Avenue
New York, New York 10017-4605
U.S.A.
Towers Perrin is one of the world's largest management consultant firms, serving about 10,000 clients, among them some 65 percent of the world's largest companies. It has more than 70 offices in 24 countries. The company operates in five fields: human resources and general management consulting; employee benefit services; health industry consulting; reinsurance; and financial services and risk management. The firm is owned by its executives and other principal employees.
Towers Watson & Co. (Towers Watson), incorporated on February 17, 1958, is a global professional services firm focused on providing consulting and other professional services related to employee benefits, human capital and risk and financial management. It provides advisory services on critical human capital management issues to help its clients manage their costs, talent and risk. It offers its clients services across three business segments: Benefits, Risk and Financial Services, and Talent and Rewards. Towers Watson was formed on January 1, 2010, from the merger of Towers, Perrin, Forster & Crosby, Inc. (Towers Perrin) and Watson Wyatt Worldwide, Inc. (Watson Wyatt). In January 2011, the Company acquired Aliquant, full service health and welfare benefits administration outsourcing firm.
The Company helps its clients improve business performance by improving their ability to attract, retain and motivate employees and to manage and mitigate risk. It focuses on delivering consulting services and technology solutions to help organizations anticipate, identify and capitalize on emerging opportunities in benefits and human capital management. It also provides independent advice and risk management solutions to insurance companies and corporate clients, as well as investment advice to help its clients develop disciplined and efficient strategies to manage risk and meet their investment goals.
Benefits segment
The Benefits segment provides benefits consulting and administration services through four primary lines of business. Retirement supports organizations worldwide in designing, managing, administering and communicating all types of retirement plans. Health and Group Benefits provides advice on the strategy, design, financing, delivery, ongoing plan management and communication of health and group benefit programs. Through its Technology and Administration Solutions line of business, the Company delivers cost-effective benefit outsourcing solutions. The International Consulting Group provides expertise in dealing with international human capital management and related benefits and compensation issues for its clients and their subsidiaries.
The Company’s retirement consulting services include retirement strategy and plan design; actuarial services and related support; retirement financial management; settlement solutions; compliance and governance strategies; risk management, and defined contribution solutions. Its global services include program strategy, design and pricing; health condition management consulting; pharmacy benefit management consulting; workforce well-being evaluation and wellness and health promotion consulting; performance measurement and monitoring; development of funding strategies and forecasting, budgeting and reserve setting; vendor evaluation, selection and management, and claims audits and pre- and post-implementation audits.
Risk and Financial Services segment
The Risk and Financial Services segment has three primary lines of business. Risk Consulting and Software provides the insurance industry with consulting and industry-specific software solutions that range from asset-liability modeling and product development to economic capital aggregation and allocation. Reinsurance and Insurance Brokerage principally provides reinsurance brokerage services. Investment Consulting and Solutions provides investment strategy consulting and solutions for institutional investors, primarily to defined benefit and defined contribution pension plans.
Talent and Rewards segment
The Talent and Rewards segment has three primary lines of business. Executive Compensation advises its clients’ management and boards of directors on executive pay and incentive programs. Rewards, Talent and Communication provide consulting on a number of issues facing employers, including employee rewards (pay and incentives), talent management, employee communication and change management. Data, Surveys and Technology provides data, analytics, consulting and technology solutions, such as compensation and human capital benchmarking data, employee opinion surveys, and reward administration and talent management technology, to help employers manage their employees and human resources programs.
The Company competes with Marsh & McLennan company, Aon company, Deloitte, Accenture, Willis and PricewaterhouseCoopers.
Towers Perrin's human resources and general management consulting unit was offering services in four broad categories in 1999: business strategy, in which the firm often was called upon to help define, clarify, or implement business strategy on an organizational, business unit, or functional level; organizational strategy, which it said called for evaluating every component process through the filter of business strategy to make sure that strategy, structure, and processes were closely interwoven; people strategy, which called for understanding the roles people play in each business situation and making investments in people appropriate to those roles; and change management, intended to help firms learn how to embrace rather than resist change and to implement practices and processes that keep people engaged, productive, and focused on business results.
Towers Perrin's employee benefit services fell into three broad categories: benefit strategy, plan management, and benefit administration. The health industry consulting unit was serving health systems, physician organizations, insurers, and health plans in every U.S. market.
Tillinghast-Towers Perrin was providing management consulting to the financial services industry worldwide. This field of consulting was divided into financial services, property/casualty insurance, risk management, and health insurance. Towers Perrin Reinsurance was providing reinsurance intermediary services and consulting expertise that focused on the creative blending of traditional and nontraditional risk transfer vehicles. Towers Perrin also was offering an array of publications on topics relevant to its activities, many of them in the form of newsletters.
Principal Divisions: Tillinghast-Towers Perrin; Towers Perrin; Towers Perrin Reinsurance Co.
Principal Competitors: Booz Allen & Hamilton Inc.; McKinsey and Company Inc.; Mercer Consulting Group Inc.; Moritz Inc.
OVERALL
Beta: 0.61
Market Cap (Mil.): $4,696.37
Shares Outstanding (Mil.): 74.56
Annual Dividend: 0.30
Yield (%): 0.48
FINANCIALS
TW Industry Sector
P/E (TTM): 23.02 12.45 18.80
EPS (TTM): 42.02 -- --
ROI: 5.62 6.49 4.19
ROE: 8.91 8.62 7.33
Statistics:
Private Company
Incorporated: 1934 as Towers, Perrin, Forster & Crosby, Inc.
Employees: 8,400
Sales: $1.23 billion (1998)
NAIC: 541611 Administrative Management & General Management Consulting Services
Key Dates:
1934: Founding of Towers, Perrin, Forster & Crosby.
1950: TPF & C has grown ninefold in sales since its founding.
1982: Company acquires Cresap, McCormick and Paget.
1986: Acquisition of Tillinghast, Nelson & Warren.
1987: Company name is shortened to Towers Perrin.
1997: Towers Perrin ranks second in size among employee benefit consultants and seventh among actuarial firms.
Name Age Since Current Position
John Haley 61 2010 Chairman of the Board, Chief Executive Officer
Mark Mactas 2010 Deputy Chairman of the Board, President, Chief Operating Officer
Roger Millay 52 2010 Chief Financial Officer
Anne Bodnar Chief Administrative Officer
Walter Bardenwerper 58 2010 General Counsel, Head - Legal Affairs
Tony Candito Head - Information Technology
Sharon Clark Head - Marketing
Tricia Guinn Head - Risk and Financial Services
Steve Mele Head - Human Resources
Gene Wickes 56 2010 Member of the Management Board
Bob Charles Member of the Management Board
Jim Foreman Member of the Management Board
Julie Gebauer Member of the Management Board
Gordon Gould Member of the Management Board
Luiz Gouvea Member of the Management Board
Babloo Ramamurthy Member of the Management Board
John Gabarro 70 1999 Director
Gilbert Ray 66 2000 Director
Linda Rabbitt 60 2002 Director
Brendan O'Neill 62 2006 Director
Victor Ganzi 64 2010 Director
Mark Maselli 48 2010 Director
Paul Thomas 53 2010 Director
Wilhelm Zeller 66 2010 Director
Betsy Atkins 55 2010 Director
Address:
335 Madison Avenue
New York, New York 10017-4605
U.S.A.