**Exhibit 21**

 

**WATSON WYATT & COMPANY HOLDINGS**

**SUBSIDIARIES**

 
| **SUBSIDIARY NAME**                       | ** ** | **JURISDICTION  OF  INCORPORATION/  ORGANIZATION** | ** ** | **Name(s)  under which  such subsidiary does  business (if different)*** | ** ** |
|-------------------------------------------|------------|----------------------------------------------------|------------|--------------------------------------------------------------------------|------------|
|                                      |       |                                               |       |                                                                     |       |
| Watson Wyatt Argentina S.A.               |       | Argentina                                          |       |                                                                     |       |
| Watson Wyatt Australia Pty Ltd            |       | Australia                                          |       |                                                                     |       |
| Wycomp Pty Ltd                            |       | Australia                                          |       |                                                                     |       |
| Watson Wyatt Superannuation Pty Ltd       |       | Australia                                          |       |                                                                     |       |
| Watson Wyatt S.A.                         |       | Belgium                                            |       |                                                                     |       |
| Watson Wyatt Brasil Ltda.                 |       | Brazil                                             |       |                                                                     |       |
| Watson Wyatt Consulting Limited           |       | Canada                                             |       |                                                                     |       |
| Watson Wyatt Company Limited              |       | Canada                                             |       |                                                                     |       |
| Watson Wyatt Consultancy (Shanghai) Ltd.  |       | China                                              |       |                                                                     |       |
| Watson Wyatt Consultancy (Shenzhen) Ltd.  |       | China                                              |       |                                                                     |       |
| Watson Wyatt Colombia S.A.                |       | Colombia                                           |       |                                                                     |       |
| Watson Wyatt Consultores  Colombia S.A.   |       | Colombia                                           |       |                                                                     |       |
| Watson Wyatt S.A.R.L.                     |       | France                                             |       |                                                                     |       |
| Watson Wyatt GmbH                         |       | Germany                                            |       |                                                                     |       |
| Watson Wyatt Hong Kong Limited            |       | Hong Kong                                          |       |                                                                     |       |
| Watson Wyatt India Private Limited        |       | India                                              |       |                                                                     |       |
| P.T. Watson Wyatt Purbajaga               |       | Indonesia                                          |       |                                                                     |       |
| P.T. Watson Wyatt Indonesia               |       | Indonesia                                          |       |                                                                     |       |
| Watson Wyatt Italia s.r.l.                |       | Italy                                              |       |                                                                     |       |
| Watson Wyatt K.K.                         |       | Japan                                              |       |                                                                     |       |
| Watson Wyatt (Malaysia) Sdn. Bhd.         |       | Malaysia                                           |       |                                                                     |       |
| Watson Wyatt Holdings (Mauritius) Limited |       | Mauritius                                          |       |                                                                     |       |
| Watson Wyatt Mexico, S.A. de  C.V.        |       | Mexico                                             |       |                                                                     |       |
| Watson Wyatt B.V.                         |       | Netherlands                                        |       |                                                                     |       |
| Watson Wyatt European Region B.V.         |       | Netherlands                                        |       |                                                                     |       |

 

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| Watson Wyatt New Zealand Limited              |   | New Zealand   |   |   |   |
|-----------------------------------------------|--------|---------------|--------|--------|--------|
| Retirement Planning Seminars (NZ) Limited     |   | New Zealand   |   |   |   |
| Retirement Trustees NZ Limited                |   | New Zealand   |   |   |   |
| Watson Wyatt Philippines, Inc.           |   | Philippines   |   |   |   |
| Watson Wyatt Puerto  Rico, Inc.          |   | Puerto Rico   |   |   |   |
| Watson Wyatt Singapore Pte. Ltd.              |   | Singapore     |   |   |   |
| Watson Wyatt de España, S.A.             |   | Spain         |   |   |   |
| Watson Wyatt A.B.                             |   | Sweden        |   |   |   |
| Watson Wyatt AG                               |   | Switzerland   |   |   |   |
| Watson Wyatt (Thailand) Ltd.                  |   | Thailand      |   |   |   |
| Watson Wyatt Uruguay [Limited]                |   | Uruguay       |   |   |   |
| Wyatt Trustee Limited                         |   | U.K.          |   |   |   |
| PCL (1991) Limited                            |   | U.K.          |   |   |   |
| PCL Limited                                   |   | U.K.          |   |   |   |
| The Wyatt Company (UK) Limited                |   | U.K.          |   |   |   |
| The Wyatt Company Holdings Limited            |   | U.K.          |   |   |   |
| Watson Wyatt Holdings (Europe) Limited        |   | U.K.          |   |   |   |
| Watson Wyatt International Limited            |   | U.K.          |   |   |   |
| Wyatt Financial Services Limited              |   | U.K.          |   |   |   |
| Wyatt Pension Plan Trustee Limited            |   | U.K.          |   |   |   |
| Watson Wyatt European Region Limited          |   | U.K.          |   |   |   |
| Watson Wyatt Limited                          |   | U.K.          |   |   |   |
| Watson Wyatt (UK) Acquisitions 1 Limited      |   | U.K.          |   |   |   |
| Watson Wyatt (UK) Acquisitions 2 Limited      |   | U.K.          |   |   |   |
| Watson Wyatt & Company               |   | U.S. Delaware |   |   |   |
| Watson Wyatt Insurance Consulting, Inc.  |   | U.S. Delaware |   |   |   |
| Watson Wyatt Investment Consulting, Inc. |   | U.S. Delaware |   |   |   |
| Wyatt Data Services, Inc.                |   | U.S. Delaware |   |   |   |
| Watson Wyatt International, Inc.         |   | U.S. Nevada   |   |   |   |

 

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*All of these subsidiaries do business under their own name or underthe name Watson Wyatt Worldwide.

 

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