Hewitt completes purchase of NTRC
US – Hewitt Associates has completed its previously announced acquisition of Northern Trust Retirement Consulting.
Hewitt said in a statement that “it has completed the acquisition of substantially all of the assets of Northern Trust Retirement Consulting, Northern Trust's retirement consulting and administration business”.
The acquisition was announced on April 24. Hewitt and Northern Trust have also agreed to work together as “preferred providers” in their areas of expertise.
NTRC provides defined benefit, defined contribution and retiree health and welfare administration services, including record-keeping and customer service. “The arrangement also covers retirement consulting and actuarial services, including plan design and communication,” Hewitt said.
NTRC has gross revenues of around 74 million dollars. The financial terms of the agreement were not disclosed.