INCLUDING: UK - Watson Wyatt expands in Bristol; FRANCE - EDHEC appoints research associate; UK - Ford to contribute $600m to Jaguar pension plan
Watson Wyatt has expanded its defined contribution (DC) consulting team in the south west with three appointments at its Bristol office. Senior consultant Paul Enderby has transferred from London to head up the Bristol DC team and is joined by David Saunders and Hayley Ellison, who are both new to the firm. Saunders previously worked at SBJ consulting and Deloitte, while Ellison joins from Xafinity.
FRANCE - EDHEC appoints research associate
Sage & Hermes Ltd managing director Dr Arjuna Sittampalam has been appointed research associate at the EDHEC Risk and Asset Management Research Centre. Sittampalam's experience encompasses the banking, insurance and specialist fund management fields, with a particular interest in derivatives and other innovative portfolio management techniques. He founded Sage & Hermes in 1994 to advise leading financial institutions in the US and Europe on investment management business strategy and operations.
UK - Ford to contribute $600m to Jaguar pension plan
Ford Motor Company will contribute US$600m to the Jaguar Land Rover pension plans has part of the sale of Jaguar Land Rover to Tata Motors. The agreement will see Tata pay $2.3m in cash for Jaguar. The transfer of ownership to Tata Motors is expected to close by the end of the next quarter, subject to applicable regulatory approvals. In a statement, the companies said Jaguar Land Rover's employees, trades unions and the UK Government had been kept informed of developments as the sale process progressed and had indicated their support for the agreement.
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.