UK - Bernett Waddingham has been appointed to manage three defined benefit pension schemes for Renold, the world's largest chain manufacturer.
Barnett Waddingham won the appointment despite failing to show up for the presentation at Renold’s Manchester offices after being caught in a traffic jam.
A meeting was re-scheduled for the following week after which trustees confirmed the deal.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.