UK - IBM UK Pension Trust has dropped Aon Consulting as actuarial and investment adviser after more than 30 years.
The decision – which will see Watson Wyatt take over the role – follows the announcement that Aon scheme actuary, Stephen Gooch, is retiring.
IBM UK Pensions Trust chairman Jim Lamb insisted there had not been any fallout with Aon.
He said: “It is not easy to replace such an excellent partner. However, the trustees felt this change was in the best interests of the fund and its members.
“Watson Wyatt has the skills and resources needed to provide the trustees with the investment advice and actuarial services required in an increasingly complex environment.”
Senior Watson Wyatt partner Greg Alexander has been appointed scheme actuary.
The scheme is the 29th largest in the UK with net assets of around £3.8bn.
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