Buck is Back – Conduent Spins Off HR Consulting and Actuarial Businesses
What Goes Around Comes Around: Buck Consultants is Back as Sequoia
Private equity investment firm H.I.G. Capital acquired Conduent’s human resources consulting and outsourcing businesses in the U.K. and in Canada as well as its U.S. human resources consulting and actuarial business, forming again what once was actuarial firm Buck Consultants. The new-old firm will operate as an independent entity operating under the relaunched Buck brand, led by CEO Jack Freker.
Buck, initially founded in 1916 as an actuarial consulting firm, now offers benefits advisory, analytics, administration, employee engagement and communication services. Buck works with global, national and regional companies and governmental agencies and its business relationships often span decades.
The new business has about US$280 million in revenue.
Conduent keeps its technology platform business, including HR outsourcing, total benefits outsourcing, BenefitWallet and RightOpt.