mental health - two people

Measuring the bottom‐line impact of mental health

Assessing your company’s situation and taking action can pay dividends in the form of higher employee engagement, mitigation of risk, and operational effectiveness, all of which contribute to improving ROI.

About us

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Morneau Shepell is Canada’s only consulting and outsourcing company that takes an integrative approach to health, benefits, retirement, and employee assistance needs.

Our clients are progressive leaders seeking to enhance the health, productivity, and financial security of their people. With more than 8,000 clients and 3 million plan members, we help increase engagement, productivity, and financial outcomes, while reducing risk, to enhance competitiveness and business success. 

Morneau Shepell Inc. is a public company listed on the Toronto Stock Exchange (TSX), trading under the symbol MSI.

Company history

Morneau Shepell has been a leading provider of human resources consulting and outsourcing services for nearly 50 years.

With our focus on innovative solutions, we deliver human resources and workplace health and productivity solutions that help clients across North America better manage their costs and enhance the strength of their organizations.

Here are some milestones in the company’s history:



Morneau Shepell acquires Pacific Risk Management Corp. (PRM).

Morneau Shepell acquires Groupe AST from ADP Canada.


Morneau Shepell Inc. acquires Collage Pediatric Therapy.

Morneau Shepell Inc. acquires Dion Durrell’s workers’ compensation business.


Morneau Shepell Inc. acquires the Canadian pension and benefits administration practice of Mercer Canada.

Morneau Shepell Inc. acquires SBC Systems to enhance Benefits Administration platform.


Morneau Shepell Inc. acquires Jacques Lamarre & Associates (JLA) to expand Employee Assistance Program presence in Quebec.

Morneau Shepell Inc. ("Morneau Shepell") has completed the reorganization of Morneau Sobeco Income Fund from an income trust structure into a public corporation named Morneau Shepell Inc.


Morneau Sobeco Income Fund becomes a major player in workplace health and productivity solutions with its acquisition of Shepell·fgi.

MSIF adds further depth in western Canada by acquiring the actuarial firm of Leong & Associates.


MSIF enhances its Ontario presence by acquiring the defined benefit pension business of Cowan Benefits Consulting.


MSIF expands its western Canada presence by acquiring Heath Benefits Consulting.


The firm becomes an income trust: Morneau Sobeco Income Fund (MSIF).


Morneau acquires the Canadian pension consulting practice of Deloitte & Touche.


W.F. Morneau & Associates and Sobeco merge to form Morneau Sobeco.


Morneau launches its administrative outsourcing practice.


Morneau forms a strategic alliance with Coopers & Lybrand and absorbs its pension consulting and actuarial business.


Morneau opens its first US office.


W.F. Morneau & Associates ("Morneau") is established.