**Exhibit 21**

 

**WATSON WYATT & COMPANY HOLDINGSSUBSIDIARIES OF THE REGISTRANT**

 
| **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  Colombia S.A.                |   | Colombia                                          |   |                                                                    |
| Watson Wyatt  S.A.R.L.                     |   | France                                            |   |                                                                    |
| Watson Wyatt  GmbH                         |   | Germany                                           |   |                                                                    |
| Wyatt Bode  Grabner 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                                         |   |                                                                    |
| Wyatt Internacional, S.A. de C.V.          |   | Mexico                                            |   |                                                                    |
| Watson Wyatt Mexico, S.A. de C.V.          |   | Mexico                                            |   |                                                                    |
| Watson Wyatt  B.V.                         |   | Netherlands                                       |   |                                                                    |
| Watson Wyatt  European Region B.V.         |   | Netherlands                                       |   |                                                                    |
| 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                                          |   |                                                                    |
| 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.                                              |   |                                                                    |

 

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| 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  & 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  Insurance Brokerage, Inc.   |   | U.S.  Massachusetts |   |   |
| Watson Wyatt  International, Inc.         |   | U.S. Nevada         |   |   |
| WW Finance,  Inc.                         |   | U.S.  Delaware      |   |   |

 

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*All of thesesubsidiaries do business under their own names or under the name Watson Wyatt Worldwide.

 

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