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Scotland's largest port company hires new pensions advisor

26 June 2012

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The Forth Ports Group pension scheme has appointed Punter Southall to provide a full range of actuarial and investment consultancy services.

Headed by principals Andy Scott and Gerry Devenney, Punter Southall's team in Edinburgh will provide advice to the trustees of the scheme, which has just under 2,500 members and assets of around £250m, according to data held by Pension Funds Online.

According to the same source, Punter Southall has won the contract in favour of the previous pensions advisor Mercer.

Drew McManus, pensions manager at Forth Ports based in Grangemouth, said that, after conducting a thorough tender exercise "the trustees are delighted to have appointed Punter Southall, having been particularly impressed by their innovative thinking and engaging style."

Gerry Devenney, head of Punter Southall's Edinburgh office, said: "We are absolutely thrilled to have attracted such an established, large and prestigious client as Forth Ports and we look forward to working with the trustees and their in-house pensions team in the years to come."

Forth Ports is the biggest ports group in Scotland, comprising Grangemouth, Dundee, Leith, Rosyth, Methil and Burntisland. It also owns Tilbury docks in Essex.

Punter Southall currently holds roughly £10.2bn of assets under management and £30bn of assets under advice. As a group the firm had a turnover of £90m in 2011.

 

First published 26.06.2012

azeevalkink@wilmington.co.uk