UK - Aon Consulting has appointed two investment bankers to its team.
It means Andrew Firth and Brian McCauley have joined Aon’s Financial Risk Consulting (FRC) team, and the firm said the appointments highlighted the increased competition between investment consulting firms and banks for experienced pensions professionals.
Commenting on his appointment, Firth, who has joined after 11 years with BNP Paribas’ fixed income division, said: “There is resistance from some pension scheme trustees and sponsors to many of the products on offer from investment banks on grounds of cost or complexity currently.”
He remarked that he had experience of being a trustee and sympathised with the demands placed on them.
McCauley previously spent ten years as a member of Blackrock Pensions Limited’s Management Committee in addition to a previous ten year stint at Fidelity Institutional Asset Management in Boston and London.
Head of Aon's FRC team, Iain Brown, said: “There has been a significant increase in risk management products targeted at pension funds recently across areas such as contingent asset funding, liability driven investment, derivatives, scheme liability buyouts and growth assets.
He added: “We expect this trend to continue and for corporates and trustees to prioritise risk management issues as schemes mature.”
This week's edition of Professional Pensions is out now.
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