UK - The £195.1m Independent Television News Ltd (ITN) Pension Scheme has dropped incumbent investment consultant Watson Wyatt for Aon Consulting, representing the firm's second mandate loss to Aon in recent months.
The ITN Pension Scheme appointed Aon to provide full investment consultancy advice to the scheme including any investment projects that may occur, Aon said.
Last month, Finnish company Metso Mineral replaced Watson Wyatt, its provider of full pensions services including actuarial consultancy and pension administration, and awarded Aon a three-year contract starting December 1.
Metso Minerals Ltd is the second largest company in Finland, supplying quarry, construction and engineering equipment.
A spokesperson for Watson Wyatt said the firm did not comment on specific clients.
Commenting on the mandate win, principal Chris Erwin said: “We are greatly looking forward to working with the trustees and advising one of the leading news organisations in the world on their pension scheme investment strategy.
“We were particularly pleased the trustees like the mixture of knowledge we offer about views on the real way the stockmarket behaves being allied to liability based solutions.”
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