Hewitt Associates has completed the previously announced deal to buy investment advisor EnnisKnupp. The combined firm, Hewitt EnnisKnupp,is a global investment advisory giant with $3 trillion in assets under advisement.
Financial details of the transaction were not disclosed. The deal was initially announced on July 20, 2010.
Hewitt EnnisKnupp has 200 investment professionals in five locations across America, with nearly 300 clients. A new office will be added in Newport Beach, California before the end of this year.
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Hewitt Associates operates in more than 30 countries, with a staff of 23,000.
Hewitt is already in the process of amalgamating with insurance conglomerate Aon Corporation, in a deal that will create Aon Hewitt. That $4.9 billion transaction was announced July 12, 2010.