Chicago-based global insurance brokerage Hub International Ltd. has acquired Toronto-based Proteus Performance Management Inc., the companies announced Monday.
Terms of the transaction were not disclosed.
Proteus provides specialized pension plan governance and investment consulting to corporate plan sponsors, not-for-profit organizations, trusteed plans, public plans, foundations and endowments.
“Proteus is considered among the leaders in the field of governance and investment consulting, and prides itself in providing trusted advice to clients,” says Gregory Belton, executive chairman of Hub Ontario. “They have a talented team whose experience will bring a unique perspective and substantially strengthen our Canadian pension consulting capabilities.”
The move further demonstrates Hub’s ongoing Canadian employee benefits and pension consulting growth strategy, Hub says in a news release.
Peter Henry, president of Proteus, and senior vice presidents Gord Lewis and Ryan Kuruliak will join Hub Ontario and report to Belton.
Hub International is the parent company of Woodbridge, Ont.-based managing general agency Hub Financial Inc.