Monday, Hewitt Associates (HEW) said it has closed on a partial divestiture of its Executive Compensation Consulting business in North America. Under the agreement, a select number of Hewitt principals and consultants will be leaving Hewitt to form Meridian Compensation Partners LLC, which will operate as an independent executive compensation consulting firm. Terms of the transaction were not disclosed.
Hewitt said it will continue to serve board clients that are comfortable with the comprehensive controls already put in place to ensure the independence of its executive compensation advice or where fee disclosures are not a material issue. It will also focus on growing its robust executive compensation advisory business for management.
"The independence of executive compensation consultants who serve Compensation Committees has become a politically charged issue over the past few years. While Hewitt has established substantial safeguards to ensure that our consultants provide purely objective advice and counsel, the recent SEC fee disclosure rules and political environment are pressuring some clients to avoid the issue entirely by moving to completely independent advisors, said Russ Fradin, Hewitt's chairman and chief executive officer.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.