The unassuming leader

FRESH from two acquisitions in the last few weeks, human resource and risk management firm Towers Watson has had a good run, especially on Wall Street. But things have not always gone as planned. Since John Haley, 62, stepped into his role as CEO in 1998, the firm's market value has surged over 75 times. Under his leadership, Towers Watson underwent two historic mergers and several acquisitions, including the 2012 purchase of Extend Health, which owns one of the largest private healthcare exchange providers in the US.

Following the acquisition of Extend Health, Towers Watson's market value more than doubled in the year. But right before that spectacular rise, the stock price had plummeted quite significantly. The sharp valuation plunge stemmed from the fact that Towers Watson had expended more than 10 per cent of its US$4 billion market value then to acquire Extend Health, a move which proved to be an unpopular decision on Wall Street. But the exchange solutions segment is today its main growth driver.

Towers Watson, which has 100 offices across 38 countries, manages companies' human resources, from benefits and compensation, to employee engagement surveys, and helping people through its investment consulting operation, Mr Haley says in an interview with The Business Times.