US/CANADA - UK risk management firm PensionsFirst has launched a new division to provide advanced risk management services to public and private sector pension plans in North America.
PensionsFirst Incorporated will be headed up newly-appointed CEO Alan Colner and will offer US and Canadian funds the ability to proactively measure and manage the risk in their portfolios.
The company's flagship PFaroe risk management platform was launched in the UK last year and integrates asset and liability risk measures in a web-based application.
Prior to joining PensionsFirst, Colner was a Partner at Compass Advisers, an international investment banking partnership. In this role he was an adviser to PensionsFirst for the past two years, helping the company to raise capital and build a relationship with State Street, which became a minority investor in PensionsFirst Analytics last year. (Global Pensions: 15 April 2010)
Colner said: "Pension plans throughout North America face rapidly increasing financial pressure because of changing market, regulatory and demographic forces. PensionsFirst's unique, web-based analytics platform, PFaroe, empowers pension executives with a substantially better way to measure and manage risk."
PensionsFirst founder and CEO Timothy Lyons added: "As our advisor over the past two years Alan has played a key role in helping us to develop PensionsFirst into a game-changing service provider to the defined benefit pensions industry. I am delighted that he has now decided to join us as a partner and that we will have the benefit of his broad experience in financial services to help us drive our business forward in the US and Canadian markets."
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