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For immediate release
Aon Completes Merger with Hewitt Associates
Introducing the world’s premier human capital solutions firm
Aon Corporation (NYSE:AON) announced on October 1, 2010 that it completed its merger of Hewitt
Associates, Inc. with a subsidiary of Aon, creating Aon Hewitt, the world’s premier human capital solutions
firm.
“The completion of this merger marks yet another important milestone in the history of Aon and is an industry-
changing event that will create new standards in the human capital space,” said Greg Case, president and
chief executive officer of Aon. “Through Aon Hewitt, we will provide our clients with a broader portfolio of
innovative products and services focused on what we believe are two of the most important topics facing
today’s global economy – risk and people.”
Russ Fradin, chairman and chief executive officer of Aon Hewitt, added, “As Aon Hewitt, we are a stronger,
more global industry leader, bringing innovative solutions and insights to organisations wherever they do
business. Our focus remains constant—to serve clients exceptionally well every day. Clients can be confident
Aon Hewitt has the expertise and experience to serve as a true partner, helping them with their most pressing
business challenges.”
Aon believes Aon Hewitt creates a global leader in human capital solutions and services, benefiting clients,
colleagues and stockholders in several ways, including:
Aon Hewitt revenues of $4.3 billion and 29,000 colleagues globally. Combined revenues for
fiscal year 2009 consist of 49% from consulting services, 40% from benefits administration
and 11% from HR business process outsourcing, creating more resources for colleagues and
more opportunities to distinctively serve clients with capabilities in greater than 120 countries
around the world;
Leading global brand and client service recognition worldwide. Premier Hewitt brand will be
leveraged along with Aon’s client recognition to be leading employee benefits consulting firm;
Complementary product and service portfolio across consulting, benefits administration and
HR business process outsourcing. Product portfolio will provide for significant cross-sell
opportunities including the marketing of Hewitt’s benefits administration and HR business
process outsourcing services to Aon’s clients, as well as the marketing of Aon’s industry-
leading risk services product portfolio to Hewitt’s clients;
Diversified presence across large corporate and middle market. The combined client base will
provide significant cross-sell opportunities to leverage Hewitt’s predominantly large corporate
client base with Aon’s predominantly middle market client base;
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Cost savings and operational efficiencies. The transaction is expected to generate
approximately $355 million in annual cost savings across Aon Hewitt in 2013, primarily from
reduction in back-office areas, public company costs, management overlap and leverage of
technology platforms;
Expect to achieve a long-term operating margin in Aon Hewitt of 20%. Primarily through
anticipated synergies and greater economies of scale, Aon Hewitt expects to deliver improved
operational performance and a long-term operating margin of 20%;
Expect to create $1.5 billion of stockholder value. Strong cash flow generation of Hewitt,
combined with expected synergies from the combination, are expected to deliver $1.5 billion
of value creation for stockholders on a discounted cash flow basis, after subtracting the
purchase price of the transaction.
-ENDS-
Contact: Frances Denny
Marketing Manager ANZ,
Aon Hewitt
02-9101-9042
frances.denny@aonhewitt.com
About Aon Hewitt
Aon Hewitt is the global leader in human capital consulting and outsourcing solutions. The company partners
with organisations to solve their most complex benefits, talent and related financial challenges, and improve
business performance. Aon Hewitt designs, implements, communicates and administers a wide range of
human capital, retirement, investment management, health care, compensation and talent management
strategies. With more than 29,000 professionals in 90 countries, Aon Hewitt makes the world a better place
to work for clients and their employees. For more information on Aon Hewitt, please visit
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