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Loomis appoints fiduciary manager

08 July 2014

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Loomis UK Limited pension scheme has appointed Russell Investments as fiduciary manager for the scheme.

Russell Investments will provide investment expertise and implementation services to help the trustees to achieve their objectives and their long-term goals.

Tim Gibbs, Loomis UK Limited finance director, said: "One of the reasons we adopted fiduciary management was to get clear accountability for the outcomes of the pension fund.

"We hired Russell after a thorough selection process because we believe they have the skills and resources to get us to our goals and importantly a culture of accountability, which we believe is crucial when making the selection of a fiduciary partner."

Shamindra Perera, Russell Investments head of the pension solutions group, said: "We see this appointment as something of a milestone for UK fiduciary management. Loomis was an early adopter of fiduciary management. As would be expected by such a progressive and proactive group of trustees, they took action to ensure that their needs are fully addressed.

"It represents the harbinger of a new and exciting phase in the growth of fiduciary management in the UK, as many that had adopted fiduciary management three or four years ago begin to assess the merits of their chosen provider."

First published 08.07.2014

monique_simpson@wilmington.co.uk