Important and Exciting News!
They can be reached at the following addresses:
(assistant to Don, Rich and Shep)
71 South Wacker Drive, 25th Floor
Chicago, IL 60606 www.towerswatson.com
Dear friends, clients and colleagues,
I’ve got some exciting news to share – I’m selling my consulting practice!
Thus begins the third stage of my career, a very conscious next step in my evolution – and, as I see it, the evolution of executive compensation.
First, however, I want to assure you that all our Delves Group clients will continue to be extraordinarily well served. I and my colleagues remain “on the job” and fully committed to providing the same excellent, personalized executive compensation and corporate governance consulting for which we are known and respected.
Effective July 1, The Delves Group team will join Towers Watson. Not coincidentally, as you may recall, Towers played a central role in the first phase of my career, and is where I initially learned the business and spent almost 10 years before joining Sibson & Co., iQuantic and, in 2001, starting The Delves Group.Being small, nimble and independent allowed us to do things we could not have done as part of a larger firm. We:
- Led the way as one of the first true independent voices and advisors to boards on executive pay.
- Stood firm as the only consultancy to support the expense for stock options, working closely with the FASB, writing books on the subject and testifying before the US Senate.
- Served some of the very first boards to seek independent advice on executive pay, helping to define the standards of practice for truly independent advisors.
- Took the lead in working with hundreds of board members to define core principles for governing executive pay, authoring countless articles and speeches on the topic, and (for me) earning a doctorate in the process.
Although it is far too early to claim victory, the world of corporate governance and executive pay has vastly improved in the last 10-12 years. We will take some small degree of credit for that. We will continue to work to help companies strive for excellence in governance and executive pay effectiveness.
At the same time, there are broader problems to help our clients solve:
- Our clients’ compensation issues are increasingly global.
- Companies need help unlocking and unleashing the potential of all of their employees.
- Health care and retirement challenges loom large for most corporations.
We “happy few” at The Delves Group will join a larger corps of talented consultants so that we can address those challenges and pursue a broader mission, while still providing exceptional advice to boards and management on executive pay.
Dr. Donald P. Delves
Towers Watson Announcement
Towers Watson Boosts Executive Compensation Consulting Team in North America
Adds Delves Group founder Don Delves and associates to advise corporate boards of directors and management on compensation issues
NEW YORK, June 12, 2013 — Towers Watson (NYSE, NASDAQ: TW), a global professional services company, announced today that it has expanded its executive compensation consulting practice in North America with the addition of Don Delves, one of the nation’s leading advisors to corporate boards of directors, and his team of associates. In his new role as a director in the executive compensation consulting group, Delves will continue to advise board compensation committees and senior management on executive pay and related governance issues.
Dr. Delves has more than 25 years of experience consulting with major corporate boards and executive teams on governance and executive pay issues. Prior to joining Towers Watson, Delves was the founder and president of The Delves Group, a Chicago-based consultancy he founded in 2001. The Delves Group specialized in advising corporate boards and compensation committees on how to improve their effectiveness and maximize the performance of their organizations. Before founding The Delves Group, he held various executive compensation consulting positions at iQuantic, Sibson and Company, and Towers Perrin.
“We are very pleased to add someone with Don’s experience and success to our team,” said Doug Friske, global head of executive compensation consulting at Towers Watson. “Don is nationally recognized for both his advisory work with corporate boards and compensation committees, and his deep understanding and knowledge of pay-for-performance and governance issues. He is a frequent author and speaker on executive compensation, and adds to our strong leadership position in the field. We expect Don’s expertise in process- and principle-based leadership to fit quite well with Towers Watson’s service offerings.”
“Companies are increasingly looking for executive pay solutions that require global reach and perspective. Joining Towers Watson is a natural next step in our evolution. We look forward to our role of advising board compensation committees and management on executive pay and governance issues, and helping Towers Watson grow its industry-leading practice,” said Delves.
Dr. Delves and other former members of The Delves Group team will be based in Towers Watson’s Chicago office, and will officially begin their new roles on July 1, 2013.
About Towers Watson
Towers Watson (NYSE, NASDAQ: TW) is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. The company offers solutions in the areas of benefits, talent management, rewards, and risk and capital management. Towers Watson has 14,000 associates around the world and is located on the web at towerswatson.com.