Appointments strengthen the company’s Bulk Purchase Annuity capabilities
Standard Life, part of Phoenix Group, today announces the appointment of three hires to its Defined Benefit Solutions business. Kieran Mistry (pictured) joins as Senior Business Development Manager, and Alex Webb and Lauren Doherty join as Pricing Actuaries, all of whom will focus on the company’s growing presence in the Bulk Purchase Annuity market.
After a record year for Standard Life in the Bulk Purchase Annuity market, these appointments follow a particularly busy period of BPA transaction activity during the second half of 2021. Most recently, a series of sizeable deals were announced to the market, including a £1.8bn pensioner buy-in with the Imperial Tobacco Pension Fund, and a £1.7bn full scheme buy-in with the Gallaher Pension Scheme.
Kieran joins the business from Hymans Robertson and brings with him a decade of pension consulting experience, predominantly focused on pension risk transfer. Kieran has advised on some of the largest bulk annuity transactions in the market to date and has been involved with developing advisory propositions focused on emerging risk transfer solutions. In his new role, he will be responsible for leading transactions and developing our proposition.
Alex joins the new business transactions team from Willis Towers Watson where he was a Consultant advising trustees of pension schemes and their sponsors on long-term strategy and risk management. Lauren joins the team from PwC.
Justin Grainger, Managing Director of Defined Benefit Solutions at Standard Life, part of Phoenix Group, said: “BPA activity in the market really gathered pace in the second half of 2021 and we expect that momentum to continue this year. These new appointments bring additional expertise to our already well-established team.
“Kieran, Alex and Lauren are joining the business at a really exciting time. We hold a unique position within the market, with Phoenix Group’s financial strength coupled with recognition of the Standard Life brand – a strong combination which enables us to meet the needs of trustees and end members alike, as an increasing number of schemes look to de-risk.”
