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Multinational acquires Aon Hewitt practice

US-headquartered multinational company Arthur J Gallagher & Co has acquired Brisbane-based financial advice firm Complete Financial Balance (CFB).

Gallagher, which is listed on the New York Stock Exchange under the ticker AJG, has acquired the Brisbane firm but has not disclosed the terms of the transaction. 

CFB, which is a corporate authorised representative of Aon Hewitt Financial Advice and specialises in employee benefits consulting in addition to personal financial advice, will continue to be run by Graham Campbell and Tapel Cafer, who will now be reporting to Leslie Lemenager, head of Gallagher’s international employee benefit consulting and brokerage business.

"We are particularly excited to have completed the acquisition of CFB, our first employee benefits acquisition in Australia," said J Patrick Gallagher Jr, chairman, president and CEO of Gallagher.

"Their team's solid culture, similar business model and commitment to delivering the highest professional standards will be a wonderful addition to our employee benefits consulting operations. We are pleased to welcome Graham, Tapel and their colleagues to our growing Gallagher family of professionals."

Headquartered in Itasca, Illinois, the company has operations in 33 countries and conducts business in more than 150 countries.