Willis Towers Watson to acquire PE Corporate Services
Global advisory, broking, and solutions company Willis Towers Watson has agreed to acquire PE Corporate Services (PECS), a management consultancy and remuneration advisor based in South Africa.
The acquisition strengthens the human capital and benefits capabilities of Willis Towers Watson South Africa and complements its global services in talent and reward solutions. PECS and Willis Towers Watson South Africa have been strategic partners since 2014, and today’s announcement reflects Willis Towers Watson’s strategic ambitions for growth in Africa.
PECS, which has employees in offices in Johannesburg and Durban, offers a range of services related to salary surveys, remuneration advisory services, and learning and development, both in South Africa and across sub-Saharan Africa. The business was established 70 years ago.
Ahmad Waarie, head of talent and reward for Central & Eastern Europe, Middle East and Africa, Willis Towers Watson, said: “PECS is a dynamic business with a strong and resourceful team, and we have enjoyed working closely with them for several years. This acquisition enables us to focus our extensive range of global talent and reward solutions to clients in South Africa and across the continent.”
George Bishop, head of Willis Towers Watson South Africa, said: “This acquisition enables our talent and reward business to offer our clients core services that include salary surveys, remuneration advisory services, learning and development. These new services will add value to the wide range of solutions we deliver across the region.”
Melanie Trollip, managing director of PECS, said: “Our mission has always been to be leading advisors to leading companies. This transaction will enhance our ability to meet the growing need from multi-national clients for assistance in Africa, which has been one of our most important strategic objectives. We are delighted to become part of Willis Towers Watson, with whom we have been proud to be associated with for many years. We are looking forward to playing a full and meaningful role in the talent and reward business, providing clients with an even broader range of top-quality products, services and expertise.”
The PECS team will move into the existing Willis Towers Watson South Africa offices. The transaction is expected to close before the end of Q1 2020. The terms of the transaction were not disclosed.
