The announced acquisition of Willis Tower Watson by Aon is positive for XPS, and should aid its attempts to grow share within the pensions industry. In addition to eliminating a direct competitor, the deal is likely to result in significant disruption to both companies’ existing relationships, and create uncertainty within the combined consultant base – dynamics which we see XPS as well placed to benefit from. We continue to believe that XPS is uniquely positioned in an industry with a growing e ....