EUROPE - Towers Watson has acquired HRS, a Swedish-based consultancy specialising in executive compensation, for an undisclosed sum.

Towers Watson said the deal positioned it for further growth in the Nordic region.

Babloo Ramamurthy, EMEA regional manager at the consultancy, said the acquisition of HRS was the "logical next step" in building its presence and brand in Sweden and the Nordic region generally.

"We know HRS has a strong reputation in the local market for the excellent work it does, and the firm's expertise aligns well with our broader set of services in the talent, reward and benefits areas," he said.

Formed in 1992, HRS's offerings include executive compensation, incentive design and employee pay, pension design and global coordination, performance management and compensation benchmarking and market analysis, due diligence and integration support for merger and acquisition activity.

Ake Flintull, former managing partner at HRS, will become managing consultant at Towers Watson services in Sweden.