Hewitt spins off exec consulting division

Lincolnshire-based Hewitt Associates, a global human resources consulting and outsourcing services company, announced it has closed on a partial divestiture of its Executive Compensation Consulting business in North America.

Under the agreement, a select number of Hewitt principals and consultants will be leaving Hewitt to form Meridian Compensation Partners LLC, which will operate as an independent executive compensation consulting firm.

Terms of the transaction were not disclosed.