UK - Lane Clark & Peacock have bought Swiss benefits consultant Libera AG for SFr20m.
The purchase of Libera from Ernst & Young furthers Lane Clark & Peacock’s strategic plan to build its presence in actuarial services in Europe, according to company officials. Libera generated return of SFr18.5mn in the year to 30 June 2004.
Lane Clark & Peacock is part of financial services giant Alexander Forbes. Quentin Heaney, chief executive of financial services for Alexander Forbes said: “LCP Libera enjoys a strong position in the Swiss market and benefits from an excellent client list. We have every expectation that it will maintain and develop its strong market position and healthy profitability within the Alexander Forbes Group.”
This week's top stories included Legal & General acquiring MyFutureNow to provide a dashboard service to customers, while also agreeing a hybrid buy-in with a Hitachi scheme.
NEST has signed up to the government-backed Star Initiative, taking all of its 8 million members' pension pots with it.
It is perhaps inherently difficult to find an agreed definition of value for money, but some methodologies could act as a stopgap, argues Jonathan Stapleton.