Hub International acquires Alpha Pension Group

Boston-based Alpha is a retirement consulting firm with 572 clients and about $2.9 billion in assets.

Hub International, a global insurance company based in Chicago, has acquired Alpha Pension Group, a retirement consulting firm in Boston. Terms of the acquisition, which closed Dec. 31, were not disclosed.

Alpha has 572 clients that represent 600 plans with assets of about $2.9 billion.

Rich Cawthorne, Alpha Pension’s president and CEO, and Mark Salamone, its finance chief, will join Hub New England.

[More: Hub International snaps up almost $3 billion in assets]

Hub Retirement and Private Wealth, which manages $93 billion for clients, offers institutional and retirement services to for-profit and not-for-profit organizations and customized private wealth management services to individuals and families.

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