Hewitt Associates has acquired Woodrow Milliman China, a boutique consultancy mainly owned by principals Stuart Leckie and Allen Wu, to position itself to dominate investment consulting for mainland pension funds in the future.
Leckie, an ubiquitous Scot who formerly chaired Fidelity Investments for the Asia-Pacific region, and Wu, a Canadian Chinese who was a senior executive at Manulife, have spent the past three years researching the Chinese pension system. We were doing quite well in our own small way, says Leckie. But with China's joining the World Trade Organization and its pension reforms, it was going to be hard for us to make a really big impact. We needed to be with a big name...
