Independent U.S. compensation consultancy Pearl Meyer & Partners today announced its acquisition of London-based Patterson Associates LLP, one of the foremost independent remuneration advisory firms serving clients in the EMEA (Europe, Middle East and Africa) region. With the acquisition, Pearl Meyer & Partners becomes the only U.S. independent executive compensation consultancy with a UK practice.
"The accelerating globalization of business is creating new challenges for multinational companies in recruiting, rewarding and retaining top talent," said David N. Swinford, President and CEO of Pearl Meyer & Partners. "Our acquisition of Patterson Associates is a major step in our long-term strategy to meet the global and country-specific needs of clients, whether headquartered in the U.S., EMEA or Asia Pacific markets. We look forward to our U.S. and UK teams combining their expertise to deliver even greater value to our clients."
Patterson Associates will continue under its current name as "A Pearl Meyer & Partners Practice" before transitioning over the next year to the Pearl Meyer & Partners name. Founder Simon Patterson will serve as Managing Director of Pearl Meyer & Partners´ London office and a member of the firm´s Operating Committee. Mr. Patterson is actively engaged as advisor to the Remuneration Committees of several FTSE 100 companies and consults widely on executive compensation, incentive compensation design and performance measurement.
The Patterson Index, a unique analysis of European companies that compares executive pay levels to shareholder value, will retain that name.
"Pearl Meyer & Partners´ thought leadership and strong relationships with leading U.S. public companies and boards makes the merger of our two firms an ideal collaboration," said Patterson. "As we further strengthen our remuneration advisory service offering, we will be even better positioned to meet global compensation consulting needs and expand our multinational client base."
The terms of the acquisition were not disclosed.
About Pearl Meyer & Partners and Patterson Associates
For more than 20 years, Pearl Meyer & Partners (www.pearlmeyer.com) has served as a trusted independent advisor to Boards and their senior management in the areas of compensation governance, strategy and program design. The firm provides comprehensive solutions to complex compensation challenges for multinational companies ranging from the Fortune 500 to not-for-profits as well as emerging high-growth companies. These organizations rely on Pearl Meyer & Partners to develop global programs that align rewards with long-term business goals to create value for all stakeholders: shareholders, executives, and employees. The firm has more than 100 full-time employees and more than 30 Managing Directors in 10 offices worldwide. Along with its new London office, Pearl Meyer & Partners maintains U.S. offices in New York, Atlanta, Boston, Charlotte, Chicago, Houston, Los Angeles, San Francisco and San Jose.
Patterson Associates LLP, a Pearl Meyer & Partners Practice, (www.pattersonassociates.co.uk) is an independent remuneration advisory firm established in the UK in 2005. It advises publicly listed and privately backed companies outside North America with independent expertise in the design, implementation and communication of effective incentive compensation programs. Founder Simon Patterson is a recognized expert in remuneration governance, incentive compensation design and performance measurement. Mr. Patterson previously co-founded the London office of SCA Consulting and, after the SCA partnership was acquired by Mercer in 2001, served as Worldwide Partner in charge of Executive Compensation in Mercer´s London office.
