UK - French banking group Société Générale (SocGen) has dumped incumbent actuaries William M Mercer, in favour of Watson Wyatt as consultant to its UK pension schemes.
Watson Wyatt will assume responsibility for all actuarial, investment and administration services.
SocGen operates three closed final salary schemes and a money purchase scheme for all new entrants, with a combined value of about £300m.
Mark Stewart, a partner at Watson Wyatt's London office will advise SocGen’s schemes.
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