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The Actuary The magazine of the Institute & Faculty of Actuaries

Watson Wyatt windfall

Newspapers reported this month that actuaries Roger Urwin and Paul Thornton would each receive approximately £6m in shares and cash from the takeover of the UK partnership by its US namesake, which completed on 1 August. It was further reported that the seven members of the firm’s board would share an amount approaching £35m from the total proceeds of approximately £250m. Shares worth approximately £18m were reported to be retained on behalf of the 175 non-voting partners and remaining staff but there continued to be some speculation as to unhappiness with the shape of the distribution.

Any unhappiness on the part of junior staff is unlikely to have been allayed by the appearance of an edict apparently requiring them to invest in Watson Wyatt stock as an implicit condition of career progress above a certain level.