Hewitt Associates

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Aon 4Q profit up as Hewitt deal pays off

Aon Corp. forecast continued margin improvement and posted a quarterly profit that topped Wall Street estimates, as the world’s largest insurance broker began to reap the benefits of its 2009 acquisition of Hewitt Associates.

Aon said restructuring related to the Hewitt integration was expected to help drive margin expansion. Get the full story »

Aon to cut up to 1,800; HQ being ‘worked out’

Aon Corp., a Chicago-based insurance brokerage and consulting firm, said it will cut 1,500 to 1,800 jobs globally over the next three years as part of its merger with Lincolnshire-based personnel consulting company Hewitt Associates.

It also said the headquarters decision for Aon Hewitt — the consulting arm — is “being worked out.” Aon is currently headquartered in one of the tallest buildings in Chicago.

The restructuring of the combined workforce and of the merged firm’s real estate holdings will cost $325 million, of which $180 million will be due to employee severance costs. Get the full story »

Most Hewitt holders want Aon stock in buyout

From BusinessWeek | Most of the stockholders of Hewitt Associates Inc. have decided to receive shares of Aon Corp. as part of the $4.9 billion sale of the human resources specialist.

Aon, Hewitt deal wins EU regulatory approval

U.S. insurance brokerage Aon Corp. won European Union regulatory approval on Tuesday to purchase Hewitt Associates, creating the world’s largest human resources services company. Aon, the world’s largest insurance brokerage, launched the $4.9 billion bid for Hewitt in July. The transaction was referred to the European Commission, the EU’s competition authority, in August. Get the full story »

Hewitt’s $4.9B sale to Aon to close around Oct. 1

The $4.9 billion sale of human resources specialist Hewitt Associates Inc. to Aon Corp. is expected to be completed on or around Oct. 1, the two companies said Friday.

Shareholders OK Aon, Hewitt deal

The $4.9 billion sale of human resources specialist Hewitt Associates to Aon was approved by the shareholders of both companies Monday.

The buyout is still subject to regulatory approval. Get the full story »

8 Illinois companies named best for working moms

Eight Illinois companies were among the 100 companies nationwide deemed best by Working Mother magazine, whose 2010 list opens a window onto a widening array of corporate assistance programs.

Tuition assistance, a concierge service to help with errands, leadership training for women, assistance for employees with special-needs children, paid maternity and paternity leave, and extensive flexible work arrangements were among the benefits at the top 10 firms. Get the full story »

Hewitt completes deal to acquire EnnisKnupp

Hewitt Associates completed its acquisition of investment advisory firm EnnisKnupp, the company said Thursday.

Terms of the deal, first announced July 20, have not been disclosed.

2.6% the average raise in Chicago this year

From the Chicago Sun-Times | The average raise for Chicago workers this year was 2.6 percent, slightly higher than the 2.4 to 2.5 percent national average, according to report from Lincolnshire-based Hewitt Associates. Get the full story>>

Aon’s acquisition of Hewitt clears waiting period

Insurance broker Aon Corp. said Tuesday a required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. has expired for its $4.9 billion acquisition of human resources specialist Hewitt Associates Inc. Get the full story »

Aon ties up $2.5 billion for Hewitt deal

Aon Corp. said it entered into credit agreements for up to $2.5 billion to fund its recent acquisition of Hewitt Associates.

The world’s largest insurance brokerage said it entered into a three-year unsecured term loan facility of up to $1 billion and also for an unsecured bridge loan of up to $1.5 billion. Get the full story »

Hewitt sets date for vote on Aon merger

Hewitt Associates Inc. on Wednesday established a special meeting date of Sept. 20 for its shareholders to consider its almost $5 billion merger with Aon Corp. and Alps Merger Corp., its wholly owned subsidiary. Get the full story »

Hewitt Associates 3Q earnings up 14%

Hewitt Associates Inc.’s fiscal third-quarter earnings rose 14 percent on an income-tax gain, but adjusted results dropped amid lower margins. The human-resource services company’s performance has improved modestly of late, though charges have weighed on results. It cut costs as unemployment pressured revenue during the recession. Get the full story »

Hewitt Associates sued over Aon acquisition

Lincolnshire-based Hewitt Associates Inc. was sued in an Illinois state court by investors who claimed that the $4.9 billion acquisition of the company by Aon Corp. is “inadequate.”

Ratings service cuts Aon after Hewitt deal

An RBC Capital Markets analyst lowered his rating Tuesday on insurance conglomerate Aon Corp., saying earnings growth from its planned acquisition of human resources specialist Hewitt Associates for $4.9 billion is far off.

Analyst Mark Dwelle cut Aon to “sector perform” from “outperform,” trimmed earnings per share estimates 2010 and 2011 and reduced the price target on shares by 13 percent, to $40. Get the full story »