Watson Wyatt LLP said Monday that it has spun off its Boston insurance and financial services strategic consulting group in a buyout led by two senior managers.
The move came after a review by Watson Wyatt, which is based in the United Kingdom, of its insurance and financial services consulting strategy in the United States. The company said it has decided to focus on its core life and nonlife actuarial consulting business.
The new company, Spring Consulting Group LLC, is being led by former Watson Wyatt partners Karin Landry and John Cassell. Spring Consulting is to focus on strategic consulting services to institutions operating in the health-care, retirement, disability, life, and captive insurer markets.
Though "the two groups will be separate entities, we expect there to be a close collaborative relationship between Watson Wyatt and Spring Consulting Group," Philip Brook, global head of insurance and financial services consulting at Watson Wyatt, said in a press release.
