Segal (company)
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| Company type | Consultancy |
|---|---|
| Industry | Human resources consulting |
| Founded | 1939 |
| Headquarters | , |
Number of locations | Offices in the US and Canada |
Key people | President and CEO: David Blumenstein; Chairman: Joseph A. LoCicero |
| Services |
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Number of employees | 1,100 (2025) |
| Website | segalco |
Segal is a U.S.-based consulting firm specializing in employee benefits and human resources, with its headquarters located in New York City. The company employs around 1,100 professionals throughout the United States and Canada. Its operations include subsidiaries such as Segal Marco Advisors, Segal Select Insurance Services, and Segal Benz.
History
The company was established in 1939 by Martin E. Segal under the name Martin E. Segal Company in New York, focusing on actuarial and consulting services related to employee benefit plans. In 1969, it introduced Segal Advisors to serve as its investment consulting division, which was later renamed The Segal Co. in 1991. The acquisition of Rogerscasey in 2012 broadened its investment consulting capabilities, leading to the formation of Segal Rogerscasey.
In 2013, Segal expanded its insurance brokerage services by creating Segal Select Insurance Services through the incorporation of its Fiduciary Liability Insurance Practice. That same year, the firm extended its presence into Western Canada by opening an office in Edmonton, complementing existing branches in Calgary, Montreal, and Toronto.
The company's expansion strategy progressed with the 2017 purchase of Marco Consulting Group, resulting in the creation of Segal Marco Advisors. This merger combined advisory assets exceeding $500 billion and significantly strengthened its position within investment consulting.
In 2019, Segal integrated its communications division with Benz Communications to establish Segal Benz, thereby enhancing its offerings in HR communications. The acquisition of LRWL Inc. in 2020 further bolstered Segal’s expertise in implementing public sector retirement systems, solidifying its market standing under CEO David Blumenstein.
Additional growth occurred in 2022 with the acquisitions of Michigan-based Union Services Agency—specializing in labor organizations and multiemployer funds—and Milliman's San Francisco investment consulting practice, enriching both insurance brokerage and investment consulting services.
Continuing its focused expansion approach, Segal acquired a commercial insurance portfolio from J.A. Mariano agency in 2024, reinforcing its competitive position within insurance services.
Services
Segal delivers comprehensive solutions encompassing retirement and health benefits consulting, benefits administration, benefit audits, HR and benefits communications, compensation and career strategy development, compliance advisory, HR technology implementation, commercial insurance brokerage, investment management solutions, mergers and acquisitions consulting, organizational effectiveness initiatives, financial wellness programs, as well as property and casualty insurance services.
Acquisitions and mergers
- 2001: Acquisition of Marjorie Gross & Co.
- 2002: Integration of Sibson & Company
- 2006: Purchase of Irwin Tepper Associates
- 2010: Acquisition of Aon Consulting’s U.S. multiemployer defined benefit plan and associated consulting operations
- 2012: Incorporation of Rogerscasey
- 2014: Acquired The Waters Consulting Group, partial stake in Moroni Fantin, and Excelcor
- 2017: Addition of Marco Consulting Group
- 2018: Merged with Touchstone Consulting and The Singer Group
- 2019: Acquisition of Benz Communications
- 2020: Purchase of LRWL
- 2022: Acquired Milliman's San Francisco Investment Consulting Practice and Union Services Agency
- 2024: Integration of J.A. Mariano Agency
- 2025: Acquisition of Intactic