JLT EB strengthens Annuity team
27 January 2014
JLT Employee Benefits (JLT EB) 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, says:
"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."
The appointment of James Auty is subject to formal regulatory approvals.
Notes to Editors
JLT Employee Benefits:
+44 (0)1344 464 582
+44 (0)20 7903 0661
+44 (0)20 7903 0674
About JLT Employee Benefits
JLT Employee Benefits is one of the UK's leading employee benefit providers offering a wide range of benefit and pension services, including administration, actuarial and pension consultancy, investment, Self Invested Personal Pensions (SIPPs) and Small Self Administered Schemes (SSASs) administration, flexible benefits, healthcare, benefit communication and financial education.
JLT Employee Benefits employs over 2,200 professionals throughout the UK and in 2013 had revenues of £172m in UK & Ireland.
Pensions and employee benefits companies within the JLT Employee Benefits group of companies include: JLT Benefit Solutions Ltd, Profund Solutions Limited, JLT Wealth Management Limited, JLT Investment Management Limited and Independent Trustee Services Limited. JLT Employee Benefits is part of Jardine Lloyd Thompson Group plc.
About Jardine Lloyd Thompson Group plc
Jardine Lloyd Thompson is one of the world's largest providers of insurance and employee benefits related advice, brokerage and associated services. JLT's client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 39 territories with some 9,000 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.