GLOBAL - Consulting firm Watson Wyatt reported a 44% growth in revenue for its investment consulting section in its third financial quarter.

The company said the increase in revenue from $23.8m to $34.3m was "due to strong demand for all of our services, particularly advice on investment strategy and investment manager selection".

A spokesman told IPE the bulk of its business came from the institutional market.

"All the focus on pensions and related investment strategies fuelled our growth," chief executive John Haley commented as Watson Wyatt saw its total revenues increase from $343.1m (€253.5m) last year to $395.6m.

Watson Wyatt advises many of the world's largest pension funds including about one-third of FTSE 100 companies on their pension arrangements