Setback in Singapore for Watson Wyatt

Rival investment consultant Mercer has gone from loser to leader in the Lion City, where Watson Wyatt was left vulnerable by its focus on North Asia.
Industry sources in Singapore report that Watson Wyatt has effectively closed its investment consulting business there, although Watson Wyatt says the business remains open but with a bigger focus on manager research.

The decision by Watson Wyatt to alter its business position in Singapore caps the gradual usurption of its once-dominant role by rival Mercer Investment Consulting, which has emerged as the only major player actively√°providing investment consulting advice to local institutions. But it also shows how Watson Wyatt has been reorienting its business toward the larger prospects to be found in China, Korea and Taiwan, as well as its ongoing lead position in Hong Kong.

Watson Wyatt aggressively went after Singaporean institutions in 1998...
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