{{Short description|Global professional services firm}} {{Infobox company | name = Towers Perrin | logo = Towers Perrin logo | industry = Professional services | foundation = {{start date and age|1934|03|01}} | defunct = {{end date and age|2010|01|04}} | successor = Towers Watson | location = Stamford, Connecticut, USA | key_people = Mark Mactas, CEO | services = Actuarial<br>Management consulting<br>Insurance<br>Human Resources<br>Professional Services }}

'''Towers Perrin''' was a professional services firm that provided human resource consulting, financial services consulting, reinsurance intermediary services, as well as actuarial consulting services via its Tillinghast subsidiary. The firm was entirely owned by its employees. In 2010, the firm merged with Watson Wyatt Worldwide, forming Towers Watson.

==History== On March 1, 1934, Towers, Perrin, Forster & Crosby, founded by John Towers, Charles Perrin, Walter Forster & Arthur Crosby, opened for business in Philadelphia, Pennsylvania.<ref name=history>{{Cite web | url=https://www.wtwco.com/en-us/about-us/our-history | title=Our History | publisher=Willis Towers Watson}}</ref>

In 1982, the company acquired Cresap, McCormick and Paget, general management consultants.<ref>{{Cite news | url=https://www.washingtonpost.com/archive/business/1982/10/18/management-consultants-to-merge/6ee4c81e-41f1-4478-a60f-8b067ce03e00/ | title=Management Consultants To Merge | work=The Washington Post | date=October 17, 1982 | url-access=subscription}}</ref>

In 1986, the company acquired Tillinghast, Nelson & Warren.<ref name=history/>

In 1987, Towers Perrin was established as the umbrella name for the firm.<ref name=history/>

In December 2001, the company acquired Working Concepts, a human resources firm.<ref>{{cite news | url=https://www.bizjournals.com/washington/stories/2001/12/17/daily16.html | title=Working Concepts works out deal with Towers Perrin | first=Eric | last=Winig | work=American City Business Journals | date=December 18, 2001 | url-access=subscription}}</ref>

In November 2002, the company acquired London-based reinsurance broker Denis M. Clayton & Co.<ref>{{Cite news | url=https://www.businessinsurance.com/towers-perrin-re-buys-claytons/ | title=Towers Perrin Re buys Claytons | first=Douglas | last=Mcleod | work=Business Insurance | publisher=Crain Communications | date=November 27, 2002}}</ref>

In September 2004, Russell Investment Group acquired the company's Australia pension consulting and employee benefits business.<ref>{{Cite news | url=https://www.pionline.com/article/20040901/ONLINE/409010708/russell-investment-group-acquired-towers-perrin-s-australian-pension | title=Russell Investment Group acquired Towers Perrin's Australian pension | work=Pensions & Investments | publisher=Crain Communications | date=September 1, 2004 | url-access=subscription}}</ref>

In January 2005, the company sold its human-resources outsourcing unit to Electronic Data Systems (EDS) for $420 million.<ref>{{Cite news | url=https://www.wsj.com/articles/SB110608227848729235 | title=EDS to Acquire Towers Perrin Unit | first=Gary | last=McWilliams | work=The Wall Street Journal | date=January 19, 2005 | url-access=subscription}}</ref> In addition, ExcellerateHRO, a venture owned 85% by EDS and 15% by the company was formed to provide HR-related outsourcing services as work force administration, employee recruitment and relocation, as well as traditional benefits administration.<ref>{{Cite news | url=https://www.businessinsurance.com/eds-acquires-towers-perrins-benefit-outsourcing-business/ | title=EDS acquires Towers Perrin’s benefit outsourcing business | first=Jerry | last=Geisel | work=Business Insurance | publisher=Crain Communications | date=January 23, 2005}}</ref> In 2009, the company sold its minority stake in the venture to Hewlett-Packard, which had acquired EDS.<ref>{{Cite news | url=https://www.plansponsor.com/towers-perrin-gives-up-hr-outsourcing-biz-to-hewlett-packard/ | title=Towers Perrin Gives Up HR Outsourcing Biz to Hewlett Packard | first=Rebecca | last=Moore | work=PlanSponsor | date=June 26, 2009}}</ref>

In July 2005, the company acquired Rauser AG, a German pension consulting services firm.<ref>{{Cite news | url=https://www.plansponsor.com/towers-perrin-acquires-german-consultant/ | title=Towers Perrin Acquires German Consultant | first=Fred | last=Schneyer | work=Plan Sponsor | date=July 20, 2005}}</ref>

In July 2006, the company acquired Risk Capital Management Partners, which provided financial risk management services to companies in the financial services, energy, utilities and mining industries.<ref>{{Cite news | url=https://www.risk.net/risk-management/1511615/towers-perrin-buys-risk-capital-management | title=Towers Perrin buys Risk Capital Management | work=Risk.net | date=July 1, 2006}}</ref>

In March 2007, the company acquired ISR, which surveys employees on working conditions.<ref>{{Cite news | url=https://www.benefitscanada.com/benefits/health-benefits/towers-perrin-buys-isr/ | title=Towers Perrin buys ISR | first=Craig | last=Sebastiano | work=Benefits Canada | date=March 15, 2007}}</ref>

On January 4, 2010, Towers Perrin merged with Watson Wyatt Worldwide, forming Towers Watson, the largest employee-benefits consulting firm by revenue worldwide.<ref>{{Cite press release | url=https://www.prnewswire.com/news-releases/towers-perrin-and-watson-wyatt-complete-merger-to-form-towers-watson-80538962.html | title=Towers Perrin and Watson Wyatt Complete Merger to Form Towers Watson | publisher=PR Newswire | date=January 3, 2010}}</ref><ref>{{cite news | url=https://www.reuters.com/article/markets/watson-wyatt-completes-4-bln-merger-with-towers-idUSN03213410/ | title=Watson Wyatt completes $4 bln merger with Towers | first=Phil | last=Wahba | work=Reuters | date=January 3, 2010}}</ref><ref>{{Cite news | url=https://archive.nytimes.com/dealbook.nytimes.com/2010/01/04/watson-wyatt-sews-up-4-billion-merger-with-towers/ | title=Watson Wyatt Sews Up $4 Billion Merger With Towers | work=The New York Times | date=January 4, 2010}}</ref>

==References== {{Reflist}}

{{Authority control}} Category:1934 establishments in Pennsylvania Category:2010 disestablishments in Connecticut Category:Actuarial firms Category:Business services companies established in 1934 Category:Companies disestablished in 2010 Category:Financial services companies based in Connecticut Category:Financial services companies disestablished in 2010