UK - Jenni Nicholls (pictured), a member of Hewitt Associates' investment team for seven years, has left the firm to join Watson Wyatt as a senior investment consultant to its investment practice.
In addition, the firm has poached Lloyd Raynor from Mercer Investment Consulting and Sasha Lanham-Parker from Julius Baer. Paul Francis will also join Watson Wyatt from Mellon Investment Consulting this month.
Nick Watts, European head of investment consulting at Watson Wyatt, said: “These appointments reflect the good progress we are making in the market place in terms of growing our business and it is always gratifying to be able to attract good people to Watson Wyatt.”
Commenting on Nicholls’ appointment he added: “[Nicholls] brings with her many relevant skills and an enthusiastic approach which will enrich our service offering to our pension fund clients.”
Watson Wyatt said Nicholls’ experience includes investment strategy and asset liability studies, DC investment, transition management and trustee training.
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.