The Employer Covenant Practitioners Association (ECPA) has promoted Andy Palmer to chairman from his vice chairman role, replacing Paul Burnett.
The ECPA - which comprises most practitioners operating in employer covenant advice to pension scheme trustees, sponsors and their other advisers - is increasingly making representations to the government and other bodies on covenant issues arising from proposed changes in regulation and legislation, such as the new defined benefit (DB) funding code.
Palmer is a partner in BDO's pensions advisory team and prior to this he was a financial advisory director at Alix Partners.
He has more than 15 years' experience advising trustees and employers on matters relating to employer covenant assessment and has also previously held roles at NatWest and Zolfo Cooper.
Palmer is also a qualified chartered accountant, a licensed insolvency practitioner, and a member of the Institute of Bankers.
Palmer said: "It is an honour to take over from Paul Burnett who has worked tirelessly to champion the important role that employer covenant assessment has to play in ensuring DB schemes are properly funded and that members' benefits and sponsors are protected. The current global circumstances underline the fact that the employer covenant is the cornerstone on which scheme funding decisions are made.
"The ECPA is focussed on ensuring its members continue to play a central role in helping trustees and sponsors to understand and manage covenant risk equitably."
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