« Credit ban promotes fairness | Main | Columbus Public School District hires consultants to focus on insurance fund »

January 20, 2005

Actuary partners in 240m windfall

ABOUT 240 partners in Watson Wyatt LLP, the UK actuaries, are to share $451 million (240 million) in cash and shares after selling out to Watson Wyatt & Co, their American alliance partner.

The Wall Street-listed sister company is buying the 80 per cent of Watson Wyatt LLP that it does not already own. The average payout of 1 million per partner spells the end of independence for the UK firm, which was founded as R Watson in 1878.

Read the full story

Posted by Tom Troceen