Hewitt Associates, a global human resources consulting and outsourcing company, today announced it entered into a definitive agreement to acquire EnnisKnupp, a trusted and leading provider of investment advisory services to large institutional investors. This acquisition will significantly boost Hewitt’s existing investment consulting capabilities in the U.S. and support its global growth plans. Under the terms of the agreement, Hewitt will acquire EnnisKnupp, which provides a wide range of investment consulting services to corporations, public funds, endowments, foundations, non-for-profits and Taft-Hartley plans. Once this transaction is complete, Hewitt will be one of the largest providers of investment consulting services in the U.S. and in the world, with nearly $3 trillion in assets under advisement. “Two great names in investment consulting are joining forces to offer an expanded set of services to our valued clients,” said Russ Fradin, chairman and chief executive officer of Hewitt Associates. “EnnisKnupp’s highly regarded advisory capabilities and impressive client portfolio are a perfect complement to Hewitt’s well-respected actuarial business and extensive expertise in managing pension risk. Our commitment to be a top-tier global investment consulting player and the potential to combine forces with EnnisKnupp were also real positives for Aon in our proposed transaction.” EnnisKnupp has been a leader in investment consulting services for almost 30 years and is an established large pension fund franchise in both the public and private markets in the U.S. Hewitt Investment Group (HIG), Hewitt’s existing investment consulting practice in the U.S., specializes in advising defined contribution, defined benefit, endowment and foundation clients on investment management, pension risk and asset allocation solutions. Currently, EnnisKnupp’s 135 Chicago-based employees provide investment advisory services to 167 clients. HIG already serves 120 clients from offices in five major U.S. cities. Steve Cummings, currently president and chief executive officer of EnnisKnupp, will lead the integrated Hewitt|EnnisKnupp operation reporting to Mary Moreland, Hewitt’s North American Retirement and Investment Consulting Leader. Steve will head up a strong U.S. leadership team comprised of principals from both organizations, including Bradley Smith, current leader of Hewitt Investment Group, and Russ Ivinjack and Steve Voss, principals at EnnisKnupp. Ian Peart, currently head of Global Manager Research at Hewitt, will lead the Global Manager Research function for the combined organization.