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.
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