Company type | Consultancy |
---|---|
Industry | Human resources, actuarial and benefits consulting |
Founded | 1939 |
Headquarters | New York City, New York Offices in the US and Canada |
Key people | President and CEO: David Blumenstein; Chairman: Joseph A. LoCicero |
Services |
|
Number of employees | 1,100 |
Website | www.segalco.com |
Segal is a benefits and human resources consulting firm headquartered in New York City, with 1,100 employees throughout the U.S. and Canada. [1] It is the parent of Segal Marco Advisors, Segal Select Insurance Services, Inc., andSegal Benz. [2]
Segal was founded in 1939 by Martin E. Segal as the Martin E. Segal Company in New York, [3] [4] which provided consultants and actuaries for employee benefit plans. [4]
In 1969, the company founded Segal Advisors as its investment consulting unit. In 1991, the company’s name was shortened to The Segal Co. When Segal acquired Rogerscasey in 2012, the name of the investment unit changed to Segal Rogerscasey. [3] [5]
In 2013, Segal’s Fiduciary Liability Insurance Practice was incorporated as the insurance brokerage subsidiary of Segal and renamed Segal Select Insurance Services, Inc. [6]
In 2016, the firm announced the upcoming acquisition of the Marco Consulting Group. [7] [8] The acquisition became effective January 1, 2017, and Segal Rogerscasey became Segal Marco Advisors. [7] [8] The new group had combined advisory assets of more than $500 billion. [7] [8]
In 2019, Segal’s communication practice combined with recent acquisition Benz Communications to form Segal Benz. [2]
In 2020, Segal acquired LRWL Inc., a provider of public sector retirement systems implementation services, integrating its team into Segal’s Administration, Technology, and Consulting Practice. This acquisition enhances Segal’s support for public sector entities, which was noted by David Blumenstein, Segal’s CEO. [9]
In 2022, Segal acquired Michigan-based insurance broker Union Services Agency, which provides services to labor organizations, multiemployer funds and public sector entities. [10] [11] The same year, it acquired Milliman’s San Francisco investment consulting practice. [12]
Segal offers services in retirement consulting, health benefits consulting, benefits administration consulting, benefit audits, HR and benefits communications, compensation and career strategies, compliance consulting, HR and benefits technology, commercial insurance brokerage services, investment solutions, mergers and acquisitions, organizational effectiveness, financial well-being, and property and casualty insurance. [13] [14]
Aon plc is a British-American professional services firm that offers a range of risk-mitigation products. Aon has approximately 50,000 employees across 120 countries.
The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary to carry out its operations. Subject to other statutory limitations, PBGC's single-employer insurance program pays pension benefits up to the maximum guaranteed benefit set by law to participants who retire at 65. The benefits payable to insured retirees who start their benefits at ages other than 65 or elect survivor coverage are adjusted to be equivalent in value. The maximum monthly guarantee for the multiemployer program is far lower and more complicated.
A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory body in order to provide advice.
HUB International Limited is an insurance brokerage providing an array of property, casualty, risk management, life and health, employee benefits, investment, and wealth management products and services across North America. HUB has more than 375 offices across the United States and Canada and more than 10,000 employees. It is based in Chicago, Illinois.
Marsh & McLennan Companies, Inc., doing business as Marsh McLennan, is a global professional services firm, headquartered in New York City with businesses in insurance brokerage, risk management, reinsurance services, talent management, investment advisory, and management consulting. Its four main operating companies are Marsh, Guy Carpenter, Mercer, and Oliver Wyman.
Towers Perrin was a professional services firm that provided human resource consulting, financial services consulting, reinsurance intermediary services, as well as actuarial consulting services via its Tillinghast subsidiary. The firm was entirely owned by its employees. In 2010, the firm merged with Watson Wyatt Worldwide, forming Towers Watson.
Watson Wyatt Worldwide, Inc. was a global consulting firm that merged in January 2010 with Towers Perrin to form Towers Watson. The firm's services included 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 service companies; and delivering related technology, outsourcing and data services. Its principal operating subsidiary, Watson Wyatt & Company, was a human capital consulting firm with operations in the Americas, Europe and Asia Pacific. Its corporate offices were in Arlington, Virginia.
Mercer is an American consulting firm founded in 1945. It is one of the four operating subsidiaries of global professional services firm Marsh McLennan. Mercer is headquartered in New York City with offices in 43 countries and operations in 130 countries. The company primarily provides human resources and financial services consulting services to its clients.
Wendell Milliman (1905–1976) was a founder of Milliman, Inc., formerly Milliman & Robertson, one of the largest actuarial and business consulting firms in the world. Starting as the Pacific Northwest's only independent consulting actuary in a small two-room Seattle office in 1947, Milliman co-founded, with Stuart Robertson, a company that grew to encompass offices across the nation, first on the West Coast, then in Milwaukee, and then in more than 30 locations throughout the country. It also has offices in 16 countries across the globe. Based on a profit-sharing model that brings together independent consultants under a common corporate banner, Milliman, Inc. looked for and found new opportunities to provide actuarial services to insurers and pension planners as the United States dramatically changed and its economy grew during the post-World War II years.
Milliman, formerly Milliman & Robertson, is an international actuarial and consulting firm based in Seattle, Washington.
Buck is a global HR benefits and human resource consulting firm based in New York City. On April 3, 2023, the company was acquired by Arthur J. Gallagher & Co.
TriNet Group, Inc. is a Dublin, California-based professional employer organization for small and medium-sized businesses. TriNet administers payroll and health benefits and advises clients on employment law compliance and risk reduction, acting in some cases as an outsourced human resources department. TriNet is headquartered in. TriNet partners with organizations between 3 and 2,500 employees.
Towers Watson & Co. was a global professional services firm that provided risk management services, human resource consulting, actuarial services, and investment management. The company operated in 37 countries. Customers included 92% of Fortune Global 500 companies and 84% of Fortune 1000 companies.
Fiduciary Trust Company International is a United States–based wealth management firm that provides investment management and wealth management services. It has served high-net-worth families, foundations, and endowments since 1931. As of 2019, the firm had $71 billion in assets under administration and management, serving clients in 48 countries. The firm and its subsidiaries maintain offices in New York City, and several other locations.
Aon Hewitt was a provider of human capital and management consulting services headquartered in Lincolnshire, Illinois in the United States. From 500 offices in 120 countries, it provided consulting, outsourcing, and reinsurance brokerage services. The "Aon Hewitt" brand and legal entities have now been absorbed into the "Aon" business, leaving obsolete the names "Hewitt" and "Aon Hewitt."
Alexander Forbes Group Holdings, commonly referred to as Alexforbes is a diversified financial services organisation. The company is headquartered in Johannesburg, South Africa, with a presence in two other countries on the African continent: Namibia and Botswana and in the Channel Islands through an offshore Jersey operation.
Ryan LLC is a tax services and software provider based in Dallas, Texas. Ryan LLC has 18,000 clients in over 60 countries. The company has over 113 locations around the globe, including locations in Canada, the Netherlands, the United Kingdom, India, the Philippines, and Australia.
SS&C Technologies Holdings, Inc. is an American multinational holding company headquartered in Windsor, Connecticut, that sells software and software as a service to the financial services industry. The company has offices in the Americas, Europe, Asia, Africa and Australia.
LifeWorks, formerly known as Morneau Shepell, was a human resources services and technology company headquartered in Toronto, Ontario, Canada. Established in 1966, LifeWorks served approximately 24,000 clients in North America. Besides North American offices, LifeWorks also had offices outside North America, including Brazil, Australia and the United Kingdom. LifeWorks was a publicly traded company on the Toronto Stock Exchange, with market capitalization of $2 billion.
CBIZ, Inc. is a national provider of financial, insurance and advisory services headquartered in Cleveland, Ohio. CBIZ is one of the largest accounting, insurance brokerage, financial and advisory services providers in the United States with more than 120 offices and nearly 7,000 employees. Its common stock has been traded on the New York Stock Exchange since 1996, under the symbol "CBZ" since 1997. Following its 2024 acquisition of Marcum LLP, CBIZ became the seventh-largest accounting firm in the United States.