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.
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.