Aon has reached a definitive agreement to sell certain businesses within its talent practice, specifically culture and engagement, leadership development and advisory and related products and services to Spencer Stuart, an executive search and leadership advisory firm.

“Aon’s investment strategy is centred on growth areas that support its vision to be a pre-eminent professional services firm,” said Cary Grace, chief executive officer of Aon’s retirement and investment solutions, in a press release. “Selling the culture, engagement and leadership development and advisory businesses provides an opportunity for Spencer Stuart to create greater value for clients, given their focus on talent and leadership.”

Read: Aon appoints practice director of Canada investment consulting

The pending sale is intended to accelerate investments in core growth areas and improve the return on invested capital for shareholders, according to the release.

“As a prominent player in the talent and human capital space, Aon will continue to focus on our clients’ needs through solutions that have both strategic and growth alignment,” said Michael Burke, chief executive officer of Aon’s talent, rewards and performance business. “We’ve invested in market-leading capabilities and solutions and will continue to aggressively expand our capabilities in these areas to meet the evolving demands of our clients.”

Read: Aon introduces retiree health exchange

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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