UK - Legal & General senior actuary Joseph Lu has joined competitor Synesis Life as a senior manager.
Robin Houghton, a senior consultant with Watson Wyatt has also joined Synesis, the firm said today in an announcement, and will also take up a senior manager role.
A spokesperson said both positions were newly-created to strengthen its position in the increasingly competitive Uk buy-out market.
In earlier news, Edmund Truell, former head of Duke Street Capital, announced he had secured £1bn backing from a group of investors led by US financier Christopher Flowers for his pension buy-out firm, Pension Insurance Corporation (PIC).
PIC was one of the latest entrants into the buy-out market, which already includes L&G, Synesis, Prudential and Paternoster, with Goldman Sachs and Allianz Global Investors also considering similar moves.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.
Smart Pension has absorbed more than 6,500 members from the Corporate Pensions Trust (CPT) after its trustees decided not to apply for authorisation.