UK - Mellon Human Resources & Investor Solutions has decided to keep its investment management research in-house.
Mellon considered a possible outsourcing move last year after the number of staff working on both investment research and client-facing duties had grown to 15 – nearly double the amount four years previous.
But the consultant has decided to retain its department and expand its investment consulting team.
Head of investment consulting Paul Black said: “We looked at all the possibilities but there were no discussions with other parties.
“We came to the decision pretty quickly that it would be better to do things in-house.”
Mellon has confirmed that it is to set up a dedicated team to deal specifically with investment and manager research and has created the role of head of investment research. This will be led by Robert Treich, former Pictet Asset Management head of smaller companies.
A further five recruits are expected by June.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.