Martin E. Segal founded The Segal Group, then known as the Martin E. Segal Company, in October 1939, in New York City. His sister, Esther, was the company's first employee, serving as telephone operator, secretary and bookkeeper. In the decades since then, that two-person staff located in a one-room office at 347 Fifth Avenue (opposite the Empire State Building) has grown to become one of the nation's leading firms of benefits, compensation and human resources consultants.
From the beginning, The Segal Group has been dedicated to the development of all aspects of employee benefits. This dedication resulted in innovations in every area of the employee benefits field. Many widely accepted benefit practices were first conceived, designed and introduced by The Segal Group.
In July 1967, the company was sold to what was then known as Wertheim and Company, an investment banking firm. In 1978, a group of Segal employees and consultants purchased Segal from Wertheim and Company. Employees are now the sole stockholders, and ownership of the company is vested in those who are actively leading it. Mr. Segal served as Chairman of Segal's Board of Directors until 1991 when he was named Founder and Chairman Emeritus and the company changed its name to The Segal Company.
In 1969, investment consulting affiliate Segal Advisors was founded and registered with the Securities and Exchange Commission to offer independent investment consulting services. In 2012, Segal Advisors acquired Rogerscasey, a global investment solutions firm, and named the combined entity, Segal Rogerscasey. In 2013, Segal Rogerscasey became a founding member of the Global Investment Research Alliance. In 2017, the firm acquired the Marco Consulting Group, a top investment consultancy. The combined entity, Segal Marco Advisors, is a leading global investment consulting firm providing innovative, client-driven advice and discretionary services.
In 2001, The Segal Group acquired Marjorie Gross and Company, an award-winning firm specializing in communicating benefits and compensation information as well as building strategies for effective employee communications.
In 2002, The Segal Group acquired Sibson Consulting, a human resources and compensation consulting firm founded in 1959. Sibson provides strategic human resources solutions related to the planning, implementation and operation of total rewards, compensation, retirement and health benefit programs. Sibson's services encompass talent management, benefits, organization design, sales effectiveness, change management and HR technology.
In 2006, The Segal Group acquired Irwin Tepper Associates, Inc., a consulting firm that specialized in asset-liability analysis for employee benefit programs and other organizations.
In 2013, The Segal Group’s Fiduciary Liability Insurance Practice was incorporated as the insurance brokerage subsidiary of The Segal Group, Inc. and named Segal Select Insurance Services, Inc. Segal Select works with plan sponsors and Boards of Trustees to obtain a full range of fiduciary insurance and fidelity bond coverage as well as employment practices liability insurance and cyber liability coverage.
In 2014, Segal acquired the Human Resources Consulting Division of Waters Consulting and combined it with Segal's Public Sector Compensation and Bargaining Practice. The combined entity, now known as Segal Waters Consulting, provides compensation and human resources consulting solutions to public sector entities. Also in 2014, The Segal Group acquired a portion of the business of Moroni Fantin, an employee benefits consulting firm (which has now ceased operations) specializing in working with Michigan and national, mid-market, self-insured health plans, as well as Excelcor, a partnership focused on providing human capital consulting to corporations, colleges and universities, and hospitals and medical centers.
Segal Consulting, Sibson Consulting, Segal Marco Advisors and Segal Select Insurance are all members of The Segal Group. While company names and logos have evolved over the firm’s 75-year history, members of The Segal Group remain independent, employee-owned firms that provide unbiased consulting.
The Segal Group is a founding member of the Multinational Group of Actuaries and Consultants (MGAC), whose member companies across the world meet clients’ needs for assistance in international benefits planning.