Towers Perrin's investment consulting head John Conroy has left the company to join investment manager Gensec, with effect from July, 2001.
Conroy’s move to Gensec follows the company’s recent purchase of Punter Southall’s investment consulting practice.
Conroy has been with Towers Perrin for 12 years. He will be temporarily replaced by David Carse, current head of the employee benefits division, until Towers Perrin finds a permanent replacement.
By Janet Du Chenne
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.