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Aon headquaters in Chicago. (AP)
By Bruce Japsen and Becky Yerak | After talking for a “reasonably long period of time,” Aon Corp. is taking over Hewitt Associates for $4.9 billion in cash and stock to expand its offerings to global employers navigating the complexities of health care reform and employee benefits.
The announcement Monday has pushed stock in the stock in the Chicago-based insurance brokerage and consulting firm down 7 percent in in late-afternoon trading. Get the full story »
Roberto R. Herencia has left Midwest Banc Holdings Inc., whose Midwest Bank unit failed last month, but has signed a consulting agreement that could pay him $25,000 a month.
In May, Midwest Bank, a $3.17 billion-asset lender that was among the first community banks to get federal bailout funds, was seized by regulators after failing to raise capital it needed to stay independent. Get the full story »
From The New York Times | BP has hired several investment banks, including Goldman Sachs, the Blackstone Group and Credit Suisse, to advise on its options as it faces financial and political pressure over the Gulf of Mexico oil spill.
Get the full story: nytimes.com.
From Bloomberg | United CEO Officer Glenn Tilton said the airline has hired consulting firm Bain & Co. to help plan its integration with Continental Airlines Inc.
Get the full story: businessweek.com.
Dow Jones Newswires-Wall Street Journal | Booz & Co. is
exploring a possible merger with rival management consultancy A.T.
Kearney Inc., according to people familiar with the situation, in a
deal that would give the two midsized companies greater scale but still
leave them smaller than the market leaders in a highly competitive
industry.
The merged concern would form the world’s 14th-biggest management
consultancy and seventh-biggest management strategy consultancy,
according to Tom Rodenhauser, an industry analyst and editor of
newsletter Consultants News.
By Bruce Japsen | Chicago-based
Huron Consulting Group said its Wellspring Partners and Stockamp
businesses will come under a new “unified brand” to be called
“Wellspring+Stockamp.”
By Ameet Sachdev | Dipak Jain, the former dean of Northwestern University’s Kellogg School
of Management, will become a consultant to a major law firm.
DLA Piper said Thursday that it has hired Jain to serve as a resource to
the firm’s clients as well as help with business development and
strategy.
Associated Press | Business adviser Huron Consulting Group Inc.
said Wednesday its board had elected John McCartney to become its
non-executive chairman, subject to his re-election to the board at the
May 3 annual shareholders meeting.
McCartney had served as an independent director and chairman of its
audit committee.
By Julie Johnsson | Huron
Consulting Group saw a strong finish to a chaotic year that included a
corporate restructuring after its former CEO amid left the company amid
an accounting scandal.
Huron, a Chicago-based consulting and restructuring firm, Tuesday
reported net income of $14.4 million, or $0.71 per share, for the
fourth quarter 2009. That’s a three-fold increase from prior-year
results, even though its quarterly revenues of $168.6 million decreased
slightly from 2008 levels.
Tribune staff report | Unitrin Inc. said its board of directors declared a quarterly dividend of 22 cents per share, an increase of 2 cents over the prior quarter. The dividend is payable on March 1 to its shareholders of record as of Feb. 12.
The company also named Julie M. Howard, president and chief operating officer of Navigant Consulting, Inc., a Chicago-based specialty consulting firm, to its board of directors.
Tribune staff report | Navigant Consulting Inc. announced Marc Bard has been appointed Chief Innovation Officer of the company’s Healthcare practice.
In the role, Bard will work with healthcare payers and providers to design and implement solutions for improving clinical outcomes, care processes and business performance.
See announcement: tradingmarkets.com
Tribune staff report | Human resources consultant Hewitt Associates Inc.said first-quarter profit was $68.4 million, up 5.6 percent from $64.8 million in the same three-month period a year ago. Revenues were flat at about $770 million.
Read the earnings statement: hewittassociates.com
