Global broker Aon has forged a definitive agreement to sell its culture and engagement, leadership development, and advisory and related products and services to Spencer Stuart, an American global executive advisory and leadership firm.
The pending sale, the details of which were not publicly disclosed, seeks to help accelerate investments in core growth areas and improve the return on invested capital for shareholders.
“Selling the culture, engagement, and leadership development and advisory businesses provides an opportunity for Spencer Stuart to create greater value for clients, given their focus on talent and leadership,” said Cary Grace, CEO of Aon’s retirement and investment solutions. “In return, Aon has additional opportunities now to further focus its investments on new and enhanced solutions on behalf of our clients.”
Aon said it will remain a prominent player in the talent business, focused in its rewards, assessment, and performance capabilities as these “also strategically align with other high-growth businesses across Aon.”
“We’ve invested in market-leading capabilities and solutions and will continue to aggressively expand our capabilities in these areas to meet the evolving demands of our clients,” said Michael Burke, CEO of Aon’s talent, rewards, and performance business.