Financial Services Industry
Industry: Email Alert RSS FeedBritish firms struggle to retain staff as banks set up rival units; Departure of Watson Wyatt's Carter tied to difficulties in staying competitive.(News)(Kevin Carter)(Watson Wyatt Worldwide)
Pensions & Investments, May, 2006 by Payne, Beatrix
Byline: Beatrix Payne REIGATE, England - Staff retention has become critical for U.K.-based consulting firms as investment banks encroach on traditional consultants' territory by setting up pension advisory units offering investment advice and structured products. The unexpected retirement of Kevin Carter, Watson Wyatt Worldwide Ltd.'s 53-year-old European head of investment consulting, after slightly more than a year in the job reflects tensions in the firm over staff remuneration as it tries to compete with higher-paying banks and money managers.
Watson Wyatt announced earlier this month that Mr. Carter would retire in October for "personal reasons'' and that Paul Trickett, 47, would take over from him July 1. Mr. Carter reports to Roger Urwin, who is...
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