(March 26, 2014) — Towers Watson is continuing to shake up its leadership and investment practice. The firm announced the appointment of Steve Carlson to head of investments for the Americas business effective immediately.
Carlson was promoted from his current role as leader of US advisory services to replace Chris DeMeo, who left the firm in February to start an investment advisory business for small- and mid-market institutions, spokesperson Ed Emerman confirmed.
“We are very pleased that Steve is taking on the leadership of our Americas business and joining the investment global leadership team,” said Chris Ford, global head of investments at Towers Watson. “He has excellent business and leadership experience as well as strong investment expertise, which I am confident will help grow our business in the Americas and help us continue to provide outstanding results for our clients.”
Carlson will report to Ford, who was also promoted in February to head global investments. He replaced Carl Hess, who moved up to become managing director of the Americas investments.
Towers Watson has over $2 trillion in assets under advisory and over $60 billion of assets under management.
“Institutional investors continue to face significant challenges in achieving competitive returns and managing risk,” Carlson said. “By partnering with our clients through an advisory or an outsourced CIO relationship, we are able to bring the full range of global investment insights to bear on their challenges.”
Carlson has 25 years of experience in investment consulting and asset management, and joined Towers Watson in 2001. Prior to his career at the firm, he was a consultant and principal at Chicago-based consulting firm J.H. Ellwood & Associates for eight years, and spent four years as a consultant with Northern Trust’s performance analytics group.
Spokesperson Emerman said the firm is unable to disclose Carlson’s new compensation. He also confirmed that Towers Watson plans to fill Carlson’s former position in the near future.