Defined benefit (DB) consolidator Clara has named its four inaugural providers for legal, actuarial and secretariat advice.
The start-up revealed today (8 November) it had been working with CMS since June 2017, with the firm providing legal advice during the development of the organisation.
Now, it has appointed Eversheds Sutherland to provide legal advice to its trustees, Alan Pickering, Frank Oldham and Michael Chatterton, who were appointed in September.
Hymans Robertson will provide actuarial advice and has also been involved in the proposition's development since the start of the year, while Ross Corporate Services will act as the scheme's secretariat.
Clara chief operating officer Kim Toker said it was important to appoint firms with significant experience in the sector.
"When we designed Clara, we knew from the outset that establishing a best-in-class infrastructure that draws on the knowledge and advice of the people and firms who have spent decades in the pensions industry would be fundamental to providing a truly member-first solution," she said.
"CMS, Hymans Robertson, Eversheds Sutherland and Ross Corporate Services each stood out to us as firms that could work in perfect partnership with Clara and our trustees as we build a business that works hard to secure pension scheme members' futures."
Clara is one of two DB consolidators to emerge since the government said, in a white paper earlier this year, it would seek to encourage consolidation of DB schemes. Along with The Pension Superfund, it is seeking to provide schemes with a way of accessing benefits often only available to the largest schemes, joining TPT Retirement Solutions in the market.
In September, Clara appointed former Pension Protection Fund founding chairman Lawrence Churchill as its inaugural chairman.
Clara expects to announce its first transaction by the end of the year, depending on regulatory clearance.
The government has confirmed the current interim chairwoman of The Pensions Ombudsman (TPO), Caroline Rookes, will continue the role in a permanent capacity.
The Pensions Management Institute (PMI) has appointed three non-executive directors and an executive director to its board.
Former Financial Regulators Complaints Commissioner Antony Townsend is to become chair of an expanded Determinations Panel at The Pensions Regulator (TPR).
Six members of Ross Trustees’ pension trustee and support teams have been promoted into new roles.