GLOBAL - Lane Clark & Peacock LLP (LCP) has partnered with Spanish consultant Novaster, in a bid to expand its reach in Spain and Latin America.
Novaster advises several large pension funds in Spain on actuarial and investment issues, as well as governments and companies in Latin America.
LCP partner and international director Alex Waite said the firm's international network of partners allows LCP to provide services to multinationals which have pension plans across different locations, as well as to provide solutions to plans with only a local presence.
He said: "Novaster has been a key player in the development of Spanish company pension plans in recent years. It has a blue-chip client list, and its vast experience of pension arrangements in Spain and Latin America will benefit our international clients.
"It is already helping one of our own FTSE 100 clients which is considering setting up a pension plan for certain employees in Latin America."
He told GP LCP's focus in the future will be on the BRIC countries - Brazil, Russia, India and China - in both the defined benefit and defined contribution spaces.
Novaster chief executive Diego Valero added: "Defined contribution plans are widespread in Spain and Latin America, and as a result of the large market losses last year, there is increased focus on asset allocation and corporate governance."
Novaster is the fifth company to have joined LCP's international network in the last two years.
It follows a partnership with Sweden's SPP Konsult, LCP Netherlands, Japan's JP Actuary and France's Premium Consulting.
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The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.