LONDON, 16 January 2006 - Aon Consulting, a leading pension, benefits and HR consulting firm, announced today the acquisition of Water for Fish, a UK people and organisation consulting company. The move is in line with Aon’s strategic commitment to grow its Human Resources (HR) Solutions business, offering the firm a strong platform from which to build on its market share in the HR Consultancy area.
The acquisition will enable Aon Consulting to offer clients strong consultancy skills in the areas of selection, assessment and recruitment process outsourcing¹. These skills complement Aon Consulting’s existing HR Solutions business.
Under the new deal, Aon Consulting’s existing HR Solutions business will join the Water for Fish group and operate under the Water for Fish brand name. The combined operation will be run from Aon Consulting’s existing offices in London and Farnborough, and the Water for Fish office in Henley, bringing Aon Consulting’s regional network of offices to 12.
Ben Thornton, previously Executive Director in Aon’s HR Solutions practice, will lead the new Water for Fish group. Rob Davies, former Managing Director, and Nicola Mindell, former Commercial Director of Water for Fish, continue in the business.
Commenting on the recent developments, Ben Thornton said: “We are delighted to have come to an agreement with Water for Fish. The talent that we’ve acquired will further reinforce our capabilities, track record and presence in our existing market areas of assessment and selection, and we look forward to developing Water for Fish’s existing presence in these markets.”
Ron Amy, Chairman and Chief Executive of Aon Consulting added: “Water for Fish is the perfect acquisition for our business – the skillset of the employees, coupled with the services that Water for Fish offers, fully complements Aon Consulting’s existing HR business, providing us with the opportunity to go from strength to strength in the Human Resources area.”
Notes to editors:
1. Water for Fish’s service offerings cover three broad areas:
a) Assessment - this often involves undertaking a combination of any or all of the following: competency and values frameworks for clients; selection process consultancy; assessment and development centres; individual assessment; assessment and interviewing skills training; end-to-end graduate recruitment campaigns; psychometric test consultancy and development; 360 degree feedback; management audits to support succession planning, restructuring and M&A activity.
b) Learning - focuses on the following issues: learning and development strategy and philosophy which is in line with business aspirations; enhanced management effectiveness; a consistent leadership style throughout the organisation; high potential people becoming high performance people; increased team effectiveness; best practice in managing diversity within the workforce; planned learning and development for individuals and groups; an embedded coaching culture; greater personal effectiveness; solutions that link learning outcomes to performance management.
c) Transformation - helping organisations design and implement major transformation - be it restructuring or change management programmes. This includes:redesigning business and/or management processes, creating major changes in corporate culture and performance; restructuring an organisation post merger; acquisition or divestment; creating focus by linking vision, strategy and change; developing top teams; developing human resources and/or transformation strategy; communications strategy and planning; analysing, auditing and making recommendations about organisational culture.
About Aon Consulting
Aon Consulting is a leading human capital consultancy, helping organisations of every size to attract and keep the employees they need. We advise on all aspects of employment, including health-related insurance and risk; employee compensation and pensions; human resource strategy planning; job design and change management; and staff assessment and legal issues.
Aon Consulting is a division of Aon, the UK's second largest insurance broker and provider of risk management services and a major force in reinsurance and the UK human capital consulting market. Aon Consulting Limited is authorised and regulated by the Financial Services Authority.
About Aon
Aon Corporation (www.aon.com ) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. The company employs approximately 53,000 professionals in its 600 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.
This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results, depending on a variety of factors. Potential factors that could impact results include the general economic conditions in different countries around the world, fluctuations in global equity and fixed income markets, exchange rates, rating agency actions, pension funding, ultimate paid claims may be different from actuarial estimates and actuarial estimates may change over time, changes in commercial property and casualty markets and commercial premium rates, the competitive environment, the actual costs of resolution of contingent liabilities and other loss contingencies, the heightened level of potential errors and omissions liability arising from placements of complex policies and sophisticated reinsurance arrangements in an insurance market in which insurer reserves are under pressure, and the timing and resolution of related insurance and reinsurance issues relating to the events of September 11, 2001. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, are contained in the Company's filings with the Securities and Exchange Commission.
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