Pension agency buys Aon consultancy enterprise in Germany
LCP has agreed to acquire Aon’s pension advisory, pension insurance, pension administration and investment advisory businesses in Germany at an undisclosed price.
Aon’s German retirement and investment business employs 350 people and has branches in five locations.
The acquisition gives LCP a “leading position in this important market for pension advice and related services”.
The business in Germany will be renamed LCP upon completion.
The deal with Aon is subject to the completion of the upcoming Aon and Willis Towers Watson transaction, as well as other customary closing conditions.
Spiegel UK successes
Aaron Punwani, CEO of LCP, said, “A key part of LCP’s strategy is to diversify the business into different markets with long-term growth potential. The German pension advice market is the third largest in the world after the USA and Great Britain. This makes it a natural place for LCP to take a leadership position, which is in line with what we have achieved in the UK.
“The business we are acquiring is highly regarded and has a strong blue chip customer base that complements LCP’s in the UK and Ireland. The German pension advisory market is extremely well positioned for innovation and growth as companies review their pension strategy with a stronger focus on financed and insured solutions. It is ripe for a technological change, like the one LCP has carried out for its customers in the UK and Ireland in recent years.
“We see a meeting with the knowledgeable and dynamic people who run the business in Germany. We are very happy to welcome Fred Marchlewski and his fantastic team as part of LCP and to achieve great things together for the benefit of our employees and our customers. “
