UK - Goldman Sachs has dismissed claims its new pension buyout business has found its first target.
Rothesay Life, the name for the buyout arm, received authorisation from the FSA last week to begin trading, leading to speculation it would spring into action soon.
However, a spokesperson from Goldman Sachs told Global Pensions: “There is nothing to report yet. All these stories are just over zealous speculation.”
The spokesperson confirmed Keith Satchell, formerly chief executive at Friends Provident, would advise Rothesay Life, which is headed by Addy Loudiadis.
The firm was launched to buy out company pension scheme liabilities and match them with assets. Its activities will be confined to the UK market.
Rothesay is the name of a port managed by ports operator Associated British Ports which was taken over by Goldman Sachs for £2.2bn in June 2006.
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.