Leadership Changes in Annuities Market: Canada Life and Industry Trends
Canada Life has appointed Dominic Moret as managing director of their bulk annuities division, marking a strategic move to strengthen their position in this competitive market.
Formerly at Legal & General (L&G), Moret has been instrumental in advancing their bulk annuity operations. With this new role at Canada Life, Moret is expected to leverage his expertise to devise robust strategies that will expand the company's market reach. Canada Life's chief executive, Emma Watkins, highlighted the significance of Moret's expertise in achieving their ambitious market expansion goals.
L&G and Dalriada Trustees See Leadership Changes
At L&G, Rachel Cutts has been appointed head of origination and execution within their Institutional Retirement sector, succeeding Moret. Cutts brings nearly a decade of experience at L&G and a strong reputation for managing complex annuity deals. This appointment, as confirmed by John Towner, managing director for pension risk transfer at L&G, underscores her industry talent.
Meanwhile, Dalriada Trustees has appointed Shehzad Ahmad as principal executive director. Ahmad moves from his role as head of sole trusteeship. Bill Galvin, CEO of 3173 Group, sees Ahmad's leadership as timely given the company's growth. Ahmad himself expressed a commitment to fostering excellence in governance and pension management.
New Appointments Reflect Industry Trends
Independent Governance Group (IGG) has welcomed Andrew McIlhinney as trustee director, with his background rich in pensions law from DLA Piper. IGG recognizes the increasing need for trustees with legal expertise due to rising regulatory pressures. McIlhinney emphasized the evolving nature of pension scheme management and the necessity of understanding intricate scheme regulations.
| Company | Position | New Leader |
|---|---|---|
| Canada Life | Managing Director Bulk Annuities |
Dominic Moret |
| L&G | Head Origination & Execution |
Rachel Cutts |
| Dalriada Trustees | Principal Executive Director | Shehzad Ahmad |
| IGG | Trustee Director | Andrew McIlhinney |
Commitment to Expanding Retirement Solutions
Hymans Robertson is ramping up its consulting services by promoting Lauren Branney as head of collective defined contribution (CDC). Branney, who joined in 2020, will now spearhead efforts to bolster their CDC offerings. This development is further supported by Jon Hatchett, a senior partner, obtaining a CDC Scheme Actuary Practising Certificate, signaling a transformation in retirement planning through collective risk management.
Alice Wilmot's promotion to lead Aon's employer covenant team within their UK retirement branch emphasizes her extensive experience in covenant advisement. Wilmot is ready to provide integrated advice amid ongoing regulatory changes, ensuring the team continues to grow and innovate.
Pensions and Legal Expertise in Demand
Lastly, Squire Patton Boggs has added Helen May back into their Manchester team as a director. Previously with Eversheds Sutherland, her return bolsters the firm's pension advisory capabilities. According to Matthew Giles, head of their Pensions Practice Group, May's expertise will be crucial as the firm addresses the increasing demand for complex pensions advice, enhancing strategic client services.