Willis Group Holdings completed its acquisition of a number of Irish pension and financial advisory businesses from IFG Group for an undisclosed price.

The deal went through subsidiary Willis Ireland, which gained the needed regulatory approvals to conclude the sale. Willis Group, a global insurance/reinsurance broker and risk advisor, said the acquisitions will help grow its global Human Capital and Benefits division.

Specifically, Willis Ireland is snatching up IFG Pensco Ltd, a pensions consultancy and administration business; Retirement Strategies Ltd. and IFG Private Clients Ltd., both financial advisory companies; Plainlife Trustee Services Ltd, a professional trustee company; and Trade Credit Brokers Ltd., a trade credit broking business.

Willis International CEO Tim Wright said in prepared remarks that “the Irish market holds a lot of potential and we see a growing interest among both clients and prospects in retirement and wealth planning.”

As part of the deal, Gary Owens, former IFG Group Director and CEO of IFG Ireland, becomes managing director of Willis Ireland’s combined Pension and Human Capital and Benefits business.

Source: Willis Group