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.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.