Watson Wyatt Appoints Carl Hess Director of Investment Consulting in North America

WASHINGTON, March 30 /PRNewswire-FirstCall/ -- Watson Wyatt Worldwide, a leading human capital consulting firm, today announced that Carl Hess has been appointed practice director of Watson Wyatt Investment Consulting, Inc., in North America, effective July 1, 2006. In this role, Hess will have responsibility for managing and driving growth within the firm's investment consulting subsidiary.

Hess has more than 20 years of investment and benefits consulting experience. He joined Watson Wyatt in 1989 and most recently served as U.S. east division practice director for the investment consulting practice. Hess will remain in the firm's New York office. He succeeds Howard Crane, who is stepping down as practice director on June 30, 2006, and retiring on December 31, 2006.

"The U.S. investment consulting practice has seen rapid growth during the past few years under Howard's leadership, and it is now well-positioned for future expansion," said Roger Urwin, global head of Investment Consulting at Watson Wyatt. "With his extensive experience and strong leadership skills, Carl will reinforce our commitment to helping clients create and implement the best global investment strategies."

Hess has a B.A. in logic from Yale University and is a fellow of the Society of Actuaries. He is a frequent speaker on asset allocation, risk budgeting, asset-liability management, forecasting of assets and liabilities and the development of investment policy and strategy.

In other staff changes, Matthew Stroud has been appointed investment consulting practice leader for Watson Wyatt's New York office, while Rebecca Carroll has transferred from the firm's retirement consulting practice to serve as chief compliance officer in the investment consulting group.

Stroud joined Watson Wyatt in 2003 and serves as the lead consultant to many of the firm's major clients. He has more than 10 years' experience in asset consulting at several leading financial securities organizations and consulting firms. Carroll has been a senior consulting actuary for more than 20 years. She will continue to serve clients in that role, while assuming responsibility for compliance, financial reporting and administration within the investment consulting practice.

"Matt and Becky have worked for many years with clients to develop and implement retirement and investment strategies," Hess said. "Both have contributed significantly to the firm, and in their new roles will help us continue to grow."

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. The firm provides coordinated investment strategy advice based on expertise in risk assessment, strategic asset allocation, and investment manager selection to some of the world's largest pension funds and institutional investors. It has more than 300 associates in Europe, the Americas and Asia.

In the United States, 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 a leading global human capital and financial management consulting firm. The firm specializes in employee benefits, investment consulting, human capital strategies, technology solutions, and insurance and financial services. Watson Wyatt has 6,000 associates in 30 countries and is located on the Web at http://www.watsonwyatt.com/.