US - Mercer has appointed three new staff members after its global assets under management nearly doubled in two years to US$18.7bn at year-end 2007, from $9.4bn at the end of 2005.
Ravi Venkataraman, previously chief investment officer (CIO) for investment management in the US, will now assume the role of head of the US for investment management, reporting to Larochelle.
Denis Larose, previously chief investment officer (CIO) for investment management in Canada, will assume the additional duties of overseeing the investments team in the US.
In addition, several new key hires have been announced by Venkataraman for the US. Annie Bruneau joins the US business as financial strategist and actuary reflecting the strong demand for Mercer's liability driven investing initiatives. New institutional sales directors Gary Sems and Marshall Jones join the business in the south and west regions, respectively.
In Canada, Dominic Vallée joins the business as an institutional sales director for the eastern market.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.