JLT Employee Benefits has announced the promotion of James Auty to Managing Director of The Annuity Bureau; and the appointment of James Staveley-Wadham as Principal in the insured Pensions Solutions Team.
James Auty has worked in the pensions industry for 25 years, 11 of which he has been a Scheme Actuary and Corporate Advisor with JLT EB.
James Staveley-Wadham joins JLT EB from Towers Watson where he was employed for 13 years as a Senior Consultant responsible for the development and strategy of the bulk annuity proposition.
Commenting on both appointments, Mark Wood, Chief Executive, JLT Employee Benefits, say: “James Auty will be responsible for capitalising on our market leadership position in the individual annuity market. The Annuity Bureau is an important part of our strategy in this crucial market.
“In 2013, JLT Employee Benefits advised on one in five transactions in the bulk annuity market. We expect the market to be worth £10bn of transfers in 2014. The appointment of James Staveley-Wadham shows our commitment to helping our clients develop viable strategies to de-risk their defined benefit liabilities.”
Commenting on his promotion, James Auty, Managing Director, The Annuity Bureau, says: “This is a particularly exciting time for The Annuity Bureau and the industry as a whole. Each year approximately 700,000 individuals reach retirement age and The Annuity Bureau are well-placed to help them secure the best possible income from their pension savings by using the open market option. Promoting the Open Market Option to the retiring public and employers will be a key focus for me in this new role.”
Commenting on his appointment, James Staveley-Wadham, Principal, JLT Employee Benefits, says: “Helping pension schemes de-risk effectively is essential for the long-term stability of both the scheme itself and, in some cases, the sponsoring organisation. I am looking forward to being part of the buyout team and contributing to their valuable market innovations to ensure clients get the best outcomes for their de-risking exercises.”
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