Willis Towers - WTW STOCK NEWS

WTW (NASDAQ: WTW) reported strong Q2 2024 results, with revenue increasing 5% to $2.3 billion and organic growth of 6%. The company saw significant improvements in profitability, with diluted EPS up 55% to $1.36 and adjusted diluted EPS up 24% to $2.55. Operating margin expanded by 280 basis points to 9.4%, while adjusted operating margin rose 240 basis points to 17.0%.

Both major segments, Health, Wealth & Career (HWC) and Risk & Broking (R&B), showed strong performance. HWC revenue grew 4% to $1.26 billion, with a 360 basis point increase in operating margin to 21.9%. R&B revenue increased 9% to $979 million, with a 450 basis point jump in operating margin to 20.6%.

Based on strong H1 2024 performance, WTW raised the low end of its full-year 2024 outlook for adjusted operating margin to 23.0%-23.5% and adjusted EPS to $16.00-$17.00.

WTW (NASDAQ: WTW) has announced key leadership changes in its Risk & Broking segment. Lucy Clarke joins as president, Risk & Broking, reporting to CEO Carl Hess, while Adam Garrard assumes the new role of chairman, Risk & Broking. The segment comprises over 14,000 colleagues serving 140 countries and markets globally.

Clarke, with 25 years of industry experience, most recently served as president of Marsh Specialty and Global Placement. Her appointment is expected to drive WTW's strategic priorities, enhancing specialization, digitization, and optimization capabilities. Garrard expressed confidence in Clarke's ability to align with WTW's market strengths and growth priorities, citing her proven track record and focus on talent.

WTW (NASDAQ: WTW) has announced the appointment of Eric Latalladi as the new Global Head of Technology, effective July 22, 2024. Latalladi brings over 25 years of technology experience to the role, with a proven track record in enabling growth and driving change. He joins WTW from MetLife, where he held various leadership positions, including Chief Information Security Officer and Chief Technology Officer, during his 12-year tenure.

Alexis Faber, WTW's Chief Operating Officer, expressed confidence that Latalladi's leadership will take WTW Technology into its next phase of growth. Latalladi himself stated his excitement about the future of WTW Technology and its potential to transform the company, enhance client service, and drive innovation-led growth.

WTW (NASDAQ: WTW) has announced new leadership for its Private Equity and Transaction Solutions Industry Group within Corporate Risk and Broking, North America (CRB NA). Aartie Manansingh has been appointed as Head of the division, with Jorgen Andersson and Peter Galla serving as Deputy Heads. This strategic leadership team brings deep industry knowledge to guide the division's next growth phase.

Manansingh, who rejoined WTW in 2021, has a background in M&A law and transactional risk underwriting. Andersson, with nearly 18 years at WTW, brings expertise in financial lines and transaction-specific exposures. Galla, who joined in 2006, contributes strong industry relationships and experience in guiding clients through complex transaction risks.

Mike Chang, Head of CRB North America, expressed confidence in the new leadership team's ability to expand this critical industry division. The appointments reflect WTW's commitment to enhancing its services in the private equity and transaction solutions sector.

WTW's latest Salary Budget Planning Report reveals a more conservative approach to salary budgets among U.S. employers in 2024. Key findings include:

- 47% of organizations report lower salary budgets than the previous year
- Overall median pay raise for 2024 dropped to 4.1%, down from 4.5% in 2023
- Employers anticipate longer-term stability in their workforce
- 38% of employers report difficulty attracting and retaining talent, down from 57% two years ago
- Salary budget increases expected to rise by 3.9% in 2025

Companies are making long-term changes to compensation programs, including targeted reviews and improving workplace flexibility. The focus is shifting towards a more holistic approach to reward programs, considering factors like bonuses, long-term incentives, and health benefits.

Global mergers and acquisitions (M&A) activity maintained momentum in Q2 2024, with 166 deals over $100 million completed, matching Q1 2024 and surpassing Q2 2023 by 28%.

Thirty-five large deals over $1 billion were closed, continuing a rising trend. Four mega deals over $10 billion were completed, totaling nine for the year, compared to three in H1 2023.

Intra-sector acquisitions increased to 74% of total deals, up from 57% in Q1 2023. Despite rising market confidence and improved conditions, acquirers underperformed the market by 9.3 percentage points in Q2 2024.

North American and European acquirers struggled, underperforming regional indexes by 7.7% and 10.7%, respectively. In contrast, Asia Pacific outperformed its index by 1%.

Challenges include inflation, high interest rates, and political uncertainty, emphasizing the need for cautious dealmaking and thorough due diligence.

WTW (NASDAQ: WTW), a global advisory, broking, and solutions firm, has announced that it will release its second-quarter financial results on July 25, 2024, before the market opens.

The company will hold a conference call at 9:00 a.m. Eastern Time on the same day to discuss the results and answer questions. A live broadcast of the call will be available on WTW's website, with an online replay accessible shortly after the call concludes.

WTW (NASDAQ: WTW) has appointed James Baum as the new Head of Australia and New Zealand, as well as Head of Corporate Risk & Broking (CRB) for the region, effective 15 July 2024. Baum brings over 30 years of experience, having previously held senior roles at Aon, including Global Head of Wholesale & Specialty Broking. He succeeds Simon Weaver, who will continue as Head of Asia Pacific and Head of CRB for Asia Pacific. The leadership change aims to leverage Baum's extensive knowledge to sustain and accelerate WTW's growth in Australasia. Pamela Thomson-Hall, WTW Head of International, expressed confidence in Baum's ability to further WTW's market position.

WTW released its second annual sustainability report, 'Taking Action to Create Sustainable Value,' on June 28, 2024. The report highlights WTW's sustainability initiatives, achievements, and commitments across environmental, social, and governance (ESG) domains, reflecting both internal practices and client services. CEO Carl Hess emphasized the importance of sustainability in creating long-term value and competitive advantage. WTW's efforts aim to enhance resilience, performance, and operational excellence while contributing to global community benefits. The report underscores the company's role in helping clients address sustainability in their organizations' people, risk, and capital needs.

The report is a testament to WTW's thought leadership and partnerships, which empower clients to focus on sustainability, drive growth, and achieve operational excellence.