Willis Group has agreed to acquire Charles Monat, a life insurance solutions adviser to high net worth clients, as part of strategy to expand its Global Wealth Solutions practice in Asia.
Founded in 1971, Charles Monat currently has 61 employees and consultants based in Hong Kong, Singapore, Switzerland and the US.
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Willis Group said that the operations of Charles Monat will be combined with its existing Global Wealth Solutions platform.
Following the acquisition, Charles Monat founder, chairman and CEO, Charles Monat will serve as the worldwide chairman of Willis’ Global Wealth Solutions business while his leadership team of Odd Haavik and Gigi Ong will lead Willis’ Global Wealth Solutions business in Asia alongside Yves Guelat, CEO of Willis’ Global Wealth Solutions.
Willis Asia CEO Adam Garrard said: "The combination of the Charles Monat group’s expertise and reputation in this sector, coupled with our global footprint and international experience, will allow us to significantly accelerate our plans to expand our Global Wealth Solutions capabilities to other regions around the world."
The terms of the transaction were not disclosed.
