RMMT adds to Aon expansion

United States insurance brokerage Aon Corp has acquired Hong Kong human resource consulting firm Renwick McCormick Maule & Tam (RMMT) as part of its strategy to expand its consulting services in Asia.

Aon is strengthening its position in the region and intends to make several strategic acquisitions over the next year.

Aon Holdings Asia chairman Clive Bate denied yesterday that the company was simply bargain hunting in a depressed market, adding that Aon had paid a 'fair and reasonable price' for RMMT.

Aon regional director Brian Renwick said Asia's focus on human resources was growing and every company in the region was beginning to play close attention to its people.

'Human resources account for between 60 and 70 per cent of costs,' he said. 'By controlling and managing this huge area of cost effectively, you can increase your profit.' Mr Renwick said in this economic climate where employee motivation was critical to survival and recovery, many companies were turning to consultants for help.

'Aon now has the expertise to provide the solutions to Hong Kong companies confronting these issues,' he said.