Company Profile
Segal
Company Overview
For 80 years, Segal has been providing benefits and human resources consulting for multiemployer funds and public sector organizations. As a privately-held employee-owned actuarial and consulting firm, Segal is an independent organization. Our independence allows us to provide completely unbiased consulting services for our clients.
Headquartered in New York City, Segal has offices throughout North America.
Company History
The Early Days
Martin E. Segal founded The Segal Company, then known as the Martin E. Segal Company, in October 1939. His sister, Esther, was the company's first employee, serving as telephone operator, secretary, and bookkeeper. In the decades since then, that two-person staff located in a one-room office at 347 Fifth Avenue (opposite the Empire State Building) has grown to become one of the nation's leading firms of benefit, compensation and human resources consultants.
Segal established its first office outside of New York in Chicago in 1954. During the next 20 years, our reputation and expertise increased dramatically. To accommodate the increased demand for our services, we opened additional offices throughout the U.S. and in Canada.
From our very beginning, we have been dedicated to the development of all aspects of employee benefits. This dedication resulted in innovations in every area of the employee benefits field. Many widely accepted benefit practices were first conceived, designed, and introduced by Segal.
Independent and Employee-Owned
In July 1967, the company was sold to what was then known as Wertheim and Company, an investment banking firm. At the time, Martin E. Segal relinquished the position of Chief Executive Officer. In 1978, a group of Segal employees and consultants purchased Segal from Wertheim and Company. Employees are now the sole stockholders, and ownership of the company is vested in those who are actively leading it.
Mr. Segal served as Chairman of Segal's Board of Directors until 1991 when he was named Founder and Chairman Emeritus and the company changed its name to The Segal Company. Martin Segal died in August 2012.
Continuing to Grow
In 1969, Segal founded an investment consulting affiliate (Segal Advisors, Inc.) and registered it with the Securities & Exchange Commission as a provider of independent investment consulting services.
In 2001, Segal acquired Marjorie Gross and Company, an award-winning firm specializing in communicating benefits and compensation information, as well as building strategies for effective employer communications. The MGC team was fully integrated into the firm and provides employee communications consulting services for clients in all markets.
In 2002, Segal acquired Sibson Consulting, a human resources and compensation consulting firm founded in 1959. Sibson provides strategic HR solutions related to the planning, implementation and operation of total rewards, compensation, retirement and health benefit programs. Sibson's services encompass talent management, benefits, organization design, sales effectiveness, change management and HR technology.
In 2006, Segal acquired Irwin Tepper Associates, Inc., a consulting firm that specialized in asset/liability analysis for employee benefit programs and other organizations.
In 2012, Segal Advisors acquired Rogerscasey, a global investment solutions firm. The combined entity, Segal Rogerscasey, is a leading global investment solutions firm that provides innovative, client-driven consulting advice and outsourcing solutions. In 2013, Segal Rogerscasey became a founding member of the Global Investment Research Alliance.
In 2013, Segal announced that its Fiduciary Liability Insurance Practice was incorporated as the insurance brokerage subsidiary of The Segal Group, Inc., and named Segal Select Insurance Services, Inc. Segal Select works with plan sponsors to obtain a full range of fiduciary insurance and fidelity bond coverage as well as employment practices liability insurance and cyber liability coverage.
In 2014, Segal acquired the Human Resources Consulting Division of Waters Consulting and combined it with Segal's Public Sector Compensation and Bargaining Practice. The combined entity, now known as Segal Waters Consulting, provides compensation and human resources consulting solutions to public sector entities.