Willis Towers Watson partners with Tricor on people & risk solutions

12 December 2019 Consultancy.asia 3 min. read

Tricor Hong Kong has partnered with global advisory Willis Towers Watson to provide people and risk solutions for its clients worldwide.

Asia-based business services provider Tricor – which counts over 1,700 companies listed in Hong Kong, Singapore and Malaysia among its portfolio of clients, together with 40 percent of the Fortune 500 – will now be able offer additional provisions in workforce protection and risk transfer solutions after forging a partnership with global advisory and broking firm Willis Towers Watson.

“For many years, Tricor and WTW shared the same commitment of delivering ground-breaking and tailored business expansion solutions to our respective clients,” said Tricor Hong Kong CEO Joe Wan, who previously spent ten years at PwC. “We are thus incredibly pleased to now partner with WTW and collaboratively strengthen our business expansion offerings both in Hong Kong and throughout Asia.”

Wan also restated the firm’s aim to become Asia’s leading provider of business, corporate, and financial solutions – a goal it has recently pursued through a series of acquisitions, punctuated by the purchase of fellow business services provider Richful Deyong in May and the addition of 200 professionals to its headcount of 2,600. WTW meanwhile has a team of 45,000 employees in 140 markets worldwide.

Willis Towers Watson partners with Tricor on people & risk solutions

The firm’s country head for Hong and Macau, managing director Roger Steel (himself once of Deloitte), said; “We are pleased to partner with Tricor and bring WTW’s tailor-made risk and people solutions to Tricor’s clients, helping them to grow with confidence and sustainably in an environment where uncertainty, changes and talent are the foremost concerns for leaders in organisations today.”

With a client roster in excess of 50,000, Tricor is especially active in the area of business expansion. According to a press release, access to offerings and services from WTW will help to facilitate the expansion of Tricor’s clients into the growing markets in Asia – with particular reference to those of a mainland Chinese footprint – while also supporting companies during their pre-and-post IPO process.

Steel continued; “Here in Asia, disruptive technologies, increasing demographic and societal changes have surfaced new business requirements. Companies are also now facing escalating challenges, from the US-China trade war to Environment, Social and Governance (ESG) shock, and looking at ways to better manage their risks or rapidly respond to new risks and new investor demands.”

In addition to forming the partnership, both firms have also been busy of late on the people front. Among other regional appointments over the past two months, Tricor named former Ernst & Young associate director Agnes Lui as its new Group Director of Business Development for Financial Services, while WTW Corporate Risk & Broking leader Luke Ware was named the firm's new country head of Indonesia.