UK - Independent financial adviser Elite Strategies is expanding its services in the corporate market through the acquisition of Croesus Financial Services.
Elite non-executive director Sir Brian Mawhinney said: “Our business already offers pensions advice to a variety of listed and private companies.
“But the acquisition of Croesus broadens our appeal. We have in one move quadrupled the number of our professional advisers.”
The newly-formed group now has a total of 22 advisers.
Croesus chief executive Jonathan Fry joins the board of Elite.
He will take over as chief executive from Elite founder, David Slater, who remains on the board.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.