UK - The Royal Bank of Scotland has expanded its UK and European Insurance and Pensions Group with two new appointments.
Marcus Mollan and Stuart Morris will be responsible for the structuring and marketing of risk management solutions, including derivative-based products, for pension funds and insurance firms.
Both will report to head of rates structuring Andrew Walker and head of UK and European Insurance and Pensions Group Mike Ricketts.
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.