**Exhibit 21**

** **

**WATSON WYATT &COMPANY HOLDINGS**

**SUBSIDIARIES**

** **
| **SUBSIDIARY NAME**                                      | ** ** | **JURISDICTION OF  INCORPORATION/  ORGANIZATION** | ** ** | **Name(s) under which  such subsidiary does  business (if  different)(a)** |
|----------------------------------------------------------|------------|---------------------------------------------------|------------|----------------------------------------------------------------------------|
|                                                     |       |                                              |       |                                                                       |
| 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  Insurance & Financial Services SA |       | Belgium                                           |       |                                                                       |
| Watson Wyatt  Brasil Ltda.                               |       | Brazil                                            |       |                                                                       |
| Watson Wyatt  Consulting Limited                         |       | Canada, Ontario                                   |       |                                                                       |
| Watson Wyatt  Company Limited                            |       | Canada, Ontario                                   |       |                                                                       |
| Watson Wyatt  Chile S.A.                                 |       | Chile                                             |       |                                                                       |
| Corredores de Seguros Watson Wyatt Limitada              |       | Chile                                             |       |                                                                       |
| Watson Wyatt  Consultancy (Shanghai) Ltd.                |       | China                                             |       |                                                                       |
| Watson Wyatt  Consultancy (Shenzhen) Ltd.                |       | China                                             |       |                                                                       |
| Watson Wyatt  Hong Kong Limited                          |       | China                                             |       |                                                                       |
| Watson Wyatt  Insurance Consulting 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  Deutschland GmbH                           |       | Germany                                           |       |                                                                       |
| Watson Wyatt  Insurance Consulting GmbH                  |       | Germany                                           |       |                                                                       |
| Watson Wyatt Kft                                         |       | Hungary                                           |       |                                                                       |
| Watson Wyatt  (Ireland) Limited                          |       | Ireland                                           |       |                                                                       |
| Watson Wyatt  India Private Limited                      |       | India                                             |       |                                                                       |
| Watson Wyatt  Insurance Consulting Private Ltd           |       | 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  Insurance Consulting KK                    |       | Japan                                             |       |                                                                       |
| Watson Wyatt  Insurance Consulting (Korea) Limited       |       | Korea                                             |       |                                                                       |
| 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                                       |       |                                                                       |
| Watson Wyatt Insurance  Consulting BV                    |       | Netherlands                                       |       |                                                                       |
| Watson Wyatt New  Zealand Limited                        |       | New Zealand                                       |       |                                                                       |
| Retirement  Planning Seminars (NZ) Limited               |       | New Zealand                                       |       |                                                                       |
| Retirement  Trustees NZ Limited                          |       | New Zealand                                       |       |                                                                       |

 

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| Watson Wyatt  Philippines, Inc.                                              |   | Philippines   |       |       |
|-----------------------------------------------------------------------------------|--------|---------------|------------|------------|
| Watson Wyatt Puerto Rico, Inc.                                               |   | Puerto Rico   |       |       |
| Watson Wyatt  Singapore Pte. Ltd.                                                 |   | Singapore     |       |       |
| Watson Wyatt  Insurance Consulting Pte Ltd                                        |   | Singapore     |       |       |
| Watson Wyatt de España, S.A.                                                 |   | Spain         |       |       |
| Watson Wyatt  Insurance Consulting (Spain) SA                                     |   | Spain         |       |       |
| Watson Wyatt  A.B.                                                                |   | Sweden        |       |       |
| Watson Wyatt AG                                                                   |   | Switzerland   |       |       |
| Watson Wyatt  (Thailand) Ltd.                                                     |   | Thailand      |       |       |
| Watson Wyatt  Uruguay S.A.                                                        |   | 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 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 European Investment LP                                               |   | U.K.          |       |       |
| Watson Wyatt European Investment Holdings Limited                                 |   | U.K.          |       |       |
| Watson Wyatt Insurance & Financial Services Consulting  Holdings Limited |   | U.K.          |       |       |
| Watson Wyatt Trustees Limited                                                     |   | U.K.          |       |       |
| Watsons International Limited                                                     |   | U.K.          |       |       |
| RWS Trustee Limited                                                               |   | U.K.          |       |       |
| Watson Wyatt Pretium Limited                                                      |   | U.K.          |       |       |
| Watson’s Pensioneer Trustees Limited                                         |   | U.K.          |       |       |
| Watson Wyatt Services 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 European Investment Holdings, Inc.                              |   | U.S. Delaware |       |       |
| Watson Wyatt European Investment Holdings 1, LLC                                  |   | U.S. Delaware |       |       |
| Watson Wyatt European Investment Holdings 2, LLC                                  |   | U.S. Delaware |       |       |
| Watson Wyatt Insurance & Financial Services Inc.                         |   | U.S. Delaware | ** ** | ** ** |
| Watson Wyatt International, Inc.                                             |   | U.S. Nevada   |       |       |

 

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(a)All of thesesubsidiaries do business under their own name or under the name Watson WyattWorldwide.

 

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