Segal (company) explained

Segal
Type:Consultancy
Location:New York City, New York
Offices in the US and Canada
Key People:President and CEO: David Blumenstein; Chairman: Joseph A. LoCicero
Num Employees:1,100
Industry:Human resources, actuarial and benefits consulting
Homepage:www.segalco.com

Segal is a benefits and human resources consulting firm headquartered in New York City, with 1,100 employees throughout the U.S. and Canada.[1] It is the parent of Segal Marco Advisors, Segal Select Insurance Services, Inc., and Segal Benz.[2]

History

Segal was founded in 1939 by Martin E. Segal as the Martin E. Segal Company in New York,[3] [4] which provided consultants and actuaries for employee benefit plans.

In 1969, the company founded Segal Advisors as its investment consulting unit. In 1991, the company’s name was shortened to The Segal Co. When Segal acquired Rogerscasey in 2012, the name of the investment unit changed to Segal Rogerscasey.[5]

In 2013, Segal’s Fiduciary Liability Insurance Practice was incorporated as the insurance brokerage subsidiary of Segal and renamed Segal Select Insurance Services, Inc.[6]

In 2016, the firm announced the upcoming acquisition of the Marco Consulting Group.[7] [8] The acquisition became effective January 1, 2017, and Segal Rogerscasey became Segal Marco Advisors. The new group had combined advisory assets of more than $500 billion.

In 2019, Segal’s communication practice combined with recent acquisition Benz Communications to form Segal Benz.

In 2020, Segal acquired LRWL Inc., a provider of public sector retirement systems implementation services, integrating its team into Segal’s Administration, Technology, and Consulting Practice. This acquisition enhances Segal’s support for public sector entities, which was noted by David Blumenstein, Segal’s CEO.

In 2022, Segal acquired Michigan-based insurance broker Union Services Agency, which provides services to labor organizations, multiemployer funds and public sector entities.[9] The same year, it acquired Milliman’s San Francisco investment consulting practice.[10]

Services

Segal offers services in retirement consulting, health benefits consulting, benefits administration consulting, benefit audits, HR and benefits communications, compensation and career strategies, compliance consulting, HR and benefits technology, commercial insurance brokerage services, investment solutions, mergers and acquisitions, organizational effectiveness, financial well-being, and property and casualty insurance.[11] [12]

Acquisitions and mergers

Notes and References

  1. Web site: About Segal. Segal. en. 2019-03-18.
  2. Web site: 2019-01-24 . The Segal Group adds San Francisco HR and benefits consultancy . 2024-07-17 . www.consulting.us . en.
  3. Web site: Segal Co. founder Martin Segal dead at 96 Business Insurance . 2024-08-05 . www.businessinsurance.com.
  4. News: Pogrebin . Robin . 2012-08-05 . Martin E. Segal, Titan of the Arts in New York City, Dies at 96 . 2024-08-05 . The New York Times . en-US . 0362-4331.
  5. Web site: Appell . Douglas . 3 February 2012 . Segal Advisors acquires Rogerscasey . 29 August 2024 . Pensions & Investments.
  6. Web site: 2013-01-07 . Segal Expands, Renames Fiduciary Liability Insurance Practice . 2024-08-20 . Insurance Journal . en-US.
  7. Web site: Segal Rogerscasey Buys Marco Consulting Group Chief Investment Officer . 2024-09-12 . www.ai-cio.com.
  8. Web site: Comtois . James . 12 September 2016 . Segal Rogerscasey to acquire Marco Consulting Group . 12 September 2024 . Pensions & Investments.
  9. Web site: Banking Essentials Newsletter: July 10th Edition . 2024-09-19 . www.spglobal.com . en-us.
  10. Web site: Ghosh . Palash . 8 July 2022 . Segal Marco acquires Milliman's San Francisco investment consulting practice . 25 September 2024 . Pensions & Investments.
  11. Web site: 1 June 2023 . Segal Group . 3 October 2024 . Management Consulted.
  12. Web site: The Segal Group, Inc. . dnb.com.
  13. Web site: 18 January 2001 . The Segal Co. acquired Marjorie Gross & Co., an employee benefits and... . Pensions & Investments.
  14. Web site: Segal Buys HR Consultant PLANSPONSOR . 2024-11-08 . www.plansponsor.com.
  15. Web site: The Segal Group Acquires The Waters Consulting Group Mergr M&A Deal Summary . 2024-10-31 . mergr.com.
  16. Web site: admin . 2014-01-07 . Segal Group Acquires Employee Benefits Firm Moroni Fantin in Michigan . 2024-11-08 . Insurance Journal . en-US.
  17. Web site: Retirement Industry People Moves PLANSPONSOR . 2024-10-24 . www.plansponsor.com.
  18. Web site: Segal Marco Advisors Portfolio Investments, Segal Marco Advisors Funds, Segal Marco Advisors Exits . 2024-09-04 . www.cbinsights.com.
  19. Web site: Graham . Patrick . 8 June 2022 . Segal Purchases Union Services Agency . 4 September 2024 . Mergers & Acquisitions.

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