14 February 2012

Strategic Pay Acquires Moyle Consulting

- Creates easily the largest remuneration consultancy in NZ -

Strategic Pay Limited, New Zealand’s largest full-service remuneration consultancy, has agreed to purchase Moyle Consulting Limited, a specialist remuneration consulting firm.

The agreement, which will be final from 31 March 2012, creates easily the largest consultancy of its type in New Zealand, bringing together:

- Strategic Pay’s knowledge and geographic coverage, with three offices in New Zealand and operations across the country and the South Pacific

- Moyle Consulting’s expertise, particularly in the areas of Executive and Board remuneration.

The merger will create a nationwide company of 28 staff, which will be more than double the size of the nearest competitors and able to compete with international players.

The remuneration databases that both firms operate will be amalgamated over time to consolidate into the largest of its type - over 130,000 individual roles across approximately 1,200 organisations. The range of specific market surveys the organisations produce on a regular basis will grow to 28.

Moyle Consulting’s team of five have all been offered places in the combined structure. The company’s principal, Jarrod Moyle, will join Strategic Pay’s Board as a shareholder and director. He will become a member of the management team and remain actively involved in client management.

Strategic Pay’s Managing Director, John McGill, says that the joining together of the two firms is a unique opportunity to raise the level of professional advice available and increase the quality of the consulting offering in both depth and breadth.

“The business we are in has traditionally been relatively fragmented. This acquisition represents consolidation that allows at least one player in the market to develop the tools and processes that will substantially raise the standard of consulting in the market.

“The user-friendliness of Moyle Consulting’s work will provide an advantage across our offerings, giving our clients a better and more effective understanding of the marketplace, especially given the changing pay relativities that are occurring. Together we will provide a greater range of solutions to understanding pay and managing remuneration issues.”

Jarrod Moyle says: “The breadth of market understanding, services and database capability that Strategic Pay already has will allow us to provide far more services to our clients, as well as more robust and in-depth advice. It will assist our clients in many significant ways.”

- ENDS –

NOTES TO EDITORS:

Strategic Pay - www.strategicpay.co.nz

• From its inception in 1994, Strategic Pay has built a distinctive brand of job evaluation and remuneration services, particularly the integration of remuneration and performance systems.

• Strategic Pay has a New Zealand-wide client base across the private and public sectors, energy, utilities, wholesale, transport, health, education, local and central government, not for profit.

• The company has grown rapidly both by acquisition and organic growth over the last eight years:

- In 2004, the company acquired the remuneration consulting and survey division of IBM Business Services (formerly PricewaterhouseCoopers Consulting) and has grown rapidly from that time.

- In November 2008, Strategic Pay acquired Higbee Schäffler to form New Zealand’s largest, full service remuneration consultancy.

• In addition to its head office in Auckland, Strategic Pay provides services through Wellington and South Island (Dunedin) offices – and to clients in the South Pacific.

Moyle Consulting - www.moyleconsulting.co.nz

• Formed in 2009, Moyle Consulting advises a wide range of clients, building on more than 20 years of remuneration consulting history as a division of Sheffield Ltd.

• Owned and operated by Jarrod Moyle, Moyle conducts regular market surveys, helps to determine individual role benchmarks for Executives and Directors, revise remuneration structures, set incentive and bonus schemes and all other aspects of strategic remuneration policy.

• Moyle Consulting believes that engaged and motivated employees and directors are crucial for a productive, successful New Zealand and as such, provides impartial remuneration information and, most importantly, recommendations to organisations and their decision makers.

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