UK - Citigroup has confirmed the head of its insurance and pensions structured solutions group has left the bank.
Citi declined to comment on the reasons for Heiss' departure and on her plans for the future.
Last April, Citigroup partnered with Paternoster to take responsibility for the £400m (US$791m) Powell Duffryn (PD) Pension Plan, in the largest buyout deal at the time (www.globalpensions.com; 17 April 2008).
At the time, Francis Fernandes, head of pensions actuarial, insurance and pensions structured solutions group at Citi, said the bank foresaw increased activity in the pension market.
As result of this, Fernandes said Citi, which had already taken steps into the buyout market, would be stepping up its role in managing pension risk for sponsors and trustees.
The PPF 7800 deficit was slashed in half last month as gilt yields rose. Victoria Ticha asks if this is the start of a longer trend
Frank Field is to warn Sir Philip Green not to sell his Arcadia business without ensuring defined benefit (DB) pensions are adequately protected, PP can confirm.
Some 79% of people would like to see stricter rules and checks to ensure pension pots are secure, according to a survey by the Pensions and Lifetime Savings Association (PLSA).
An analysis of IGC annual reports finds some lacking in information on value for money, costs and charges, and investment performance. James Phillips explores the findings