Willis Group has launched a new global Human Capital & Benefits (HCB) Practice which will be led by Tim Wright, who will add this group role to his duties as CEO of Willis International.
According to the company, the practice will unite all the existing employee benefits and related consulting businesses across Willis.
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These businesses include pensions and retirement planning, healthcare, group risk and life cover. They also comprise a range of consultative services such as compliance, data analytics, communications, wellness and human resource consulting.
The new practice will develop and execute a coordinated global strategy to better serve global client.
The company added that the Human Capital business in Willis North America and the Employee Benefits businesses across Willis International will continue to report to their individual geographies but will also become part of the global HCB Practice.
In 2012, these businesses generated combined revenues of over US$500 million. This change is effective immediately.
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By GlobalDataWright said: "The new practice will allow us to create a sense of identity and community among our human capital and employee benefits teams around the world. It will enable us to agree growth priorities, both organically and inorganically, and leverage capabilities and best practices across the Group for the benefit of our clients.
"The HCB practice will work closely with the geographic businesses, together with the newly-formed global industry and product practices," he added.
