Hewitt completes acquisition of EnnisKnupp

Lincolnshire-based Hewitt Associates, a global human resources consulting and outsourcing company, today announced it has completed its acquisition of EnnisKnupp, a provider of investment advisory services to large institutional investors.

As a combined entity, Hewitt EnnisKnupp now becomes one of the largest providers of investment consulting services in the U.S. and in the world, with $3 trillion in assets under advisement globally. Hewitt EnnisKnupp's 200 investment professionals in the U.S. currently serve nearly 300 clients from offices in five major U.S. cities. By the end of 2010, the business will open an additional office in Newport Beach, Calif., in response to growing client demand in the region.

"We've hit the ground running with our integration plans," said Steve Cummings, leader of Hewitt EnnisKnupp. "Our investment professionals are working to pool their expertise and knowledge to meet the needs of a broader range of clients, while maintaining the highest levels of independence and integrity. Clients from both organizations are equally enthusiastic, and they are eager to take advantage of the global reach and expanded suite of services that our newly combined organization will offer."

On July 12, Hewitt announced it had entered into a definitive agreement to merge with Aon Corporation. Aon intends to integrate Hewitt, including Hewitt EnnisKnupp, with its existing human capital operations (Aon Consulting) and operate the segment globally under a newly created Aon Hewitt brand.

Financial terms of the agreement were not disclosed.