As part of its moves to win government approval of its merger with Willis Towers Watson, global professional services company Aon is selling its U.S. retirement business to Aquiline Capital Partners and its Aon Retiree Health Exchange business to Alight Solutions for $1.4 billion.
Aon and Willis Towers Watson previously announced the divestiture of Willis Re, a set of Willis Towers Watson corporate risk and broking and health and benefits services, and Aon's retirement and investment business in Germany.
The U.S. retirement business that Aquiline will acquire includes approximately 1,000 employees and includes U.S. core retirement consulting, U.S. pension administration and the U.S.-based portion of Aon's international retirement consulting business, along with many solutions and tools. Aquiline Capital Partners is a private equity firm based in New York and London that invests in financial services, technology, business services and healthcare companies.
Alight Solutions, a business process outsourcing multinational company based in Lincolnshire, Illinois, was a division of Aon until Blackstone acquired it in 2017; it went public via a special purpose acquisition company earlier this year.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
