US - BNP Paribas has created a specialised Americas Pensions Team, based in New York, to enable North American pension plans to gain access to the firm's global products.
Like the European Pensions Team, the Americas Team will form part of BNP Paribas’s Global Risk Solutions Group, which structures products and solutions to optimise the risk management of large corporations.
The firm has recruited Jim Johnston to join the New York team from Mercer Investment Consulting in New York, where he was the lead adviser to many large pension plan sponsors in the North East. He will report to London-based Tony Osborn-Barker, global head of pensions.
Johnston will focus on the development of products addressing pension plan financing, cash flow hedging, deficit repair, structured returns and surplus management.
Osborn-Barker commented: "A perfect storm of accounting, regulatory, capital management and rating considerations have conspired to demand a new approach to pension risk management.”
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