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Towers Watson finalises merger

The merger between global advisory firm Towers Watson and Willis Group was finalised yesterday, with the new entity Willis Towers Watson listing on the Nasdaq index.

The merger of risk advisory firm, insurance and reinsurance broker Willis Group and Towers Watson was announced to the market on 1 July 2015.

At the time, the companies said the merger was expected to deliver "cost synergies" to shareholders of between US$100 million and US$125 million, as well as US$4.7 billion in incremental value for shareholders.

Willis Towers Watson, which will trade under the ticker WLTW on the Nasdaq index, will have 39,000 employees worldwide in more than 120 countries, according to a statement.

John Haley, Willis Towers Watson chief executive (and former chief executive of Towers Watson), said the new entity would deliver solutions that are driven by data and analytics.

"Willis Towers Watson is uniquely positioned to see the connections between talent, assets and ideas and how they can lead to strong performance and growth for our clients," said Mr Haley.

The company advises clients across four business segments: corporate risk and broking; exchange solutions; human capital and benefits; and investment, risk and reinsurance.