Aon Consulting, the benefits consulting business of Aon Corp., has agreed to acquire J.P. Morgan Compensation and Benefit Strategies, a division of J.P. Morgan Retirement Plan Services, LLC.
J.P. Morgan Compensation and Benefit Strategies provides compensation, retirement and health care actuarial services, with expertise in compliance, financial modeling and other actuarial-based services related to employee benefits plan designs.
Through this deal, Aon Consulting said it will add 150 employees and strengthen its presence for these services in key geographic markets. These services will extend nationwide, with offices in 13 markets including New York, Boston, Chicago, St. Louis, Dallas, Denver, Los Angeles and San Francisco.
The transaction is expected to close by March 31, 2010. Financial terms of the deal were not disclosed.
Source: Aon Consulting
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