Independent U.S. compensation consultancy Pearl Meyer & Partners has announced its acquisition of London-based Patterson Associates, 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 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."
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. 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.
Terms of the deal were not disclosed.