Hub International Acquires Ontario’s Proteus Performance Management

Hub International Ltd., the Chicago-based insurance brokerage, announced it has acquired Proteus Performance Management Inc.

Terms of the transaction were not disclosed.

Headquartered in Toronto, Ontario, Canada, Proteus provides specialized pension plan governance and investment consulting to corporate plan sponsors, not-for-profit organizations, trusteed plans, public plans, foundations and endowments.

Proteus has ranked in the top decile for overall quality of investment consulting services in the 2017 Greenwich Associates Survey for U.S. and Canadian Institutional Investors Research, said Hub in a statement.

“Proteus is considered among the leaders in the field of governance and investment consulting, and prides itself in providing trusted advice to clients,” said Gregory Belton, executive chairman of Hub Ontario. “They have a talented team whose experience will bring a unique perspective and substantially strengthen our Canadian pension consulting capabilities.”

Hub said the deal further demonstrates its “employee benefits and pension consulting growth strategy to assemble best-in-class capabilities and entrepreneurial talent across Canada to develop a complete employee benefits and pension solution.”

Peter Henry, president of Proteus, and senior vice presidents Gord Lewis and Ryan Kuruliak, will join Hub Ontario and report to Belton.

“This is an exciting and significant move for Proteus,” said Henry. “Proteus can continue to focus on our core mission – providing award winning pension plan governance and investment consulting services to our clients, but now with the added benefit of Hub’s leading corporate reputation, presence across the country and similar entrepreneurial culture.”

Source: Hub International Ltd.

Topics Mergers & Acquisitions Canada