UK - Investment banking giant ABN Amro is setting up a life and pensions advisory group.
The group – part of the bank’s financial markets advisory business – will be targeted at mid-sized companies.
The bank has hired Lane Clark & Peacock partner Francis Fernandes and former Watson Wyatt global partner Keith Jecks to identify funding issues at schemes for which the bank can provide financial solutions.
The service will offer access to debt capital markets, risk management, derivatives, financial modelling, advice on credit ratings, capital structuring and balance sheet analysis.
Jecks said: “One of the things that frustrated me as a consultant was that we could see in quite a lot detail what a pension fund needed, but we were not able to take the issue right down to the point of solving the problem.”
The service is aimed particularly at companies concerned at pension funding issues in relation to mergers and acquisitions and the Pension Protection Fund.
ABN AMRO global head of financial markets advisory Greg Major, who will head up the new group, said: “The actuarial hires we have made enable us to learn the problems in terms that are familiar to the trustees and allow us to deliver solutions in a format that is easily understandable.”
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