GERMANY - Nigel Cresswell, previously investment head at Towers Perrin, has been named as head of Towers Watson's German investment consultancy department.

With the announcement also comes news that long-serving employee Torsten Köpke, who previously held the post at Watson Wyatt Heissmann, will depart the company sometime during the first quarter of 2010.

Cresswell joined Towers Perrin Germany last year and is now moving to Frankfurt to head up the new operation. He previously worked with Alan Rubenstein at Lehman Bros - now chief executive of the UK's Pension Protection Fund - before the company collapsed. Prior to that, he worked for Morgan Stanley as head of the European pension group for Germany, Switzerland and Austria. (See earlier IPE story: Cresswell surfaces at Towers Perrin)

A spokeswoman for Towers Perrin said Köpke was leaving the company voluntarily. She added: "In the course of the merger between Watson Wyatt Heissmann and Towers Perrin, which began in January 2010, Nigel Cresswell will take responsibility for investment consulting in Germany."

Köpke's departure also means the closure of the office he originally opened, when he first joined Watson Wyatt before its merger with Dr Dr Heissmann in 2007.

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