Buck (human resources consulting company)

Buck
Formerly
  • Buck Consultants
  • Buck Consultants at Xerox
  • Conduent HR Services
  • Mellon HR&IS
IndustryProfessional services
Founded1916; 109 years ago (1916)
FounderGeorge B. Buck Sr.
HeadquartersNew York City, United States
Area served
Worldwide
ProductsHuman resource consulting and outsourcing
Owner
Number of employees
2,300
WebsiteOfficial website

Buck (formerly Buck Consultants) is a global HR benefits and human resource consulting firm based in New York City. On April 3, 2023, the company was acquired by Arthur J. Gallagher & Co.[1][2]

History

Founded as an actuarial firm in New York City in 1916 by George B. Buck Sr.,[3] in 2016 the firm had more than 1,500 employees and affiliates in nearly 200 global locations.

Buck Consultants remained an independent organization until 1997 when it was acquired by Mellon Financial.[4] The Buck Consultants brand name was scrapped in late 2003 when Mellon unified various business lines under the name Mellon Human Resource & Investor Solutions (Mellon HR&IS).[5]

Affiliated Computer Services (ACS) acquired Mellon's human resource businesses in 2005[6] and reintroduced the Buck Consultants brand. In 2010, Xerox acquired ACS for $6.4 billion. Buck Consultants was later rebranded as "Buck Consultants at Xerox".[7]

At the beginning of 2017, Conduent was spun off from Xerox. Buck Consultants, which was one of the businesses spun off, was renamed Conduent HR Services.[8]

In May 2018, Conduent announced that it would sell the Buck Consultants portion of its business to H.I.G. Capital, starting the clock on a 90-day transition period in which it hoped to complete the sale.[9] Immediately after the close of the deal on August 13, the business became known as Buck.[10]

Arthur J. Gallagher & Co. completed the acquisition of Buck in April 2023.

Management

  • Jack Freker – Chief Executive Officer
  • Amy Podrasky – Chief Operating Officer
  • Steve Coco – Chief Solutions Officer
  • Mike Hardy – Chief Financial Officer
  • Inderjit Jhajj – Chief Information Officer
  • Rod Bernstein – General Counsel and Chief Human Resources Officer
  • Dean Aloise – Managing Director (United States)
  • David Piltz – Managing Director (United Kingdom)
  • Greg Fayarchuk – Managing Director (Canada)
  • Ravi Mehta – Head of Strategy and M&A

References

  1. ^ "Arthur J. Gallagher & Co. has completed its acquisition of Buck". Buck. Retrieved 2023-07-23.
  2. ^ "Arthur J. Gallagher & Co. Completes Acquisition of Buck". PR Newswire. Retrieved 2023-07-23.
  3. ^ "About Buck History". Buck Consultants. Archived from the original on January 17, 2012. Retrieved April 13, 2017.
  4. ^ Massey, Steve (December 31, 1996). "Mellon Buys Buck Consultants". Pittsburgh Post-Gazette. Retrieved April 13, 2017.
  5. ^ Avery, Helen (October 2, 2003). "Buck Consultants change name in Mellon rebranding". Investment & Pensions Europe. Retrieved April 13, 2017.
  6. ^ "ACS Acquires Mellon HR&IS" (Press release). Mellon. March 25, 2005. Retrieved April 13, 2017.
  7. ^ Dunning, Matt (July 15, 2014). "Buck Consultants renames to reflect Xerox brand unity". Business Insurance. Retrieved April 13, 2017.
  8. ^ Paterson, Jennifer (January 4, 2017). "Xerox splits off HR business, Buck Consultants becomes Conduent". Benefits Canada. Retrieved April 13, 2017.
  9. ^ Comtois, James (May 1, 2018). "Conduent sells former Buck Consultants business to H.I.G. Capital". Pensions & Investments. Retrieved May 9, 2018.
  10. ^ Stapleton, Jonathan (August 14, 2018). "Buck name revived as Conduent completes sale of HR consulting arm to H.I.G. Capital". Professional Pensions. Retrieved August 14, 2018.