Watson Wyatt acquiring KPMG business in 3 cities

Pensions & Investments, July, 1998

WASHINGTON - Watson Wyatt Worldwide plans to acquire KPMG Peat Marwick's Boston, Cleveland and New York City actuarial, retirement and investment consulting businesses, the two firms announced. The acquisition will be effective Aug. 1. The businesses have an annual revenue of $15 million. The acquisition includes a number of KPMG Peat Marwick partners, according to a Watson Wyatt announcement.

'This acquisition of KPMG's benefits consulting practice fits tightly with our strategy of focusing on our own core strengths and will enable us to expand our reach in critical Northeast markets,' said Pete Smith, president and chief executive of Watson Wyatt.