Carl Hess to Succeed Roger Urwin as Global Head of Investment Consulting at Watson Wyatt

WASHINGTON and LONDON, March 31 /PRNewswire-FirstCall/ -- Watson Wyatt Worldwide, a leading global consulting firm, today announced that Carl Hess has been appointed global head of investment consulting, effective from 1 July 2008. He will succeed Roger Urwin who, after holding the position for the past 13 years, will take on a newly created role focusing on the global development and delivery of investment research.

Hess has been with Watson Wyatt for almost 20 years and currently serves as the director of the investment consulting practice in the Americas. He is a Fellow of the Society of Actuaries and a Chartered Enterprise Risk Analyst.

John Haley, president and chief executive officer at Watson Wyatt, said: "Carl is an extremely talented individual who is very well placed to take on Roger's business responsibilities and build on the excellent global platform that Roger has developed."

Roger Urwin, global head of investment consulting at Watson Wyatt, said: "I have worked with Carl for 13 years and have every confidence in handing over the global business role to him. While I have thoroughly enjoyed the challenges and successes of leading the practice, I am looking forward to a new focus on developing our thinking and research. Our clients have more and greater challenges than ever and my view is that I can help them most by committing 100% of my time to the research and refinement of new investment ideas to bolster the content of our work."

Roger Urwin joined Watson Wyatt in 1989 to head up the firm's UK investment consulting practice and then took on the role of the first global head of investment consulting in 1995. In his new role he will have global responsibility for investment thought leadership and research.

John Haley said: "Roger has started and grown a global investment consulting business that is without peer on almost any measure. His leadership through integrity and by example has been inspirational. He is one of the most influential people in the pensions and investment industry worldwide and, in his new position at Watson Wyatt, we expect to see him at the forefront of developing and implementing outstanding solutions for our clients."

About Watson Wyatt Investment Consulting

Watson Wyatt Investment Consulting, a division of Watson Wyatt, is focused on creating financial value for institutional investors through independent, best-in-class investment advice. We are specialist investment professionals who provide coordinated investment strategy advice based on expertise in risk assessment, strategic asset allocation, and investment manager selection. Watson Wyatt Investment Consulting provides investment advice to some of the world's largest pension funds and institutional investors, and has more than 450 associates in Europe, the Americas and Asia.

In the US investment advisory and investment consulting services are provided by Watson Wyatt Investment Consulting, Inc., which is a subsidiary of Watson Wyatt Worldwide Inc. Watson Wyatt Investment Consulting, Inc., is a registered investment adviser with the Securities and Exchange Commission.

Watson Wyatt is the trusted business partner to the world's leading organizations on people and financial issues. The firm's global services include: managing the cost and effectiveness of employee benefit programs; developing attraction, retention and reward strategies; advising pension plan sponsors and other institutions on optimal investment strategies; providing strategic and financial advice to insurance and financial services companies; and delivering related technology, outsourcing and data services. Watson Wyatt has 7,000 associates in 32 countries and is located on the Web at http://www.watsonwyatt.com/.