Johanna Garner and Simon Robinson join PensionsFirst
as the company continues to expand its multi-disciplinary team
PensionsFirst announces two new senior hires – both Vice Presidents – Simon Robinson who joins from Towers Watson and Johanna Garner who previously worked for Goldman Sachs.
Johanna Garner has joined PensionsFirst as a Vice President in their Professional Services area where she will be responsible for onboarding assets for new clients adopting PensionsFirst’s web-based risk management platform PFaroe. Garner has a strong track-record in banking, most recently at Goldman Sachs where she was an Executive Director.
PensionsFirst has also recruited Simon Robinson FIA as a Vice President in their Client Solutions team where he will be helping PensionsFirst’s clients to manage their pension risk and evaluate de-risking options. Robinson joins from Towers Watson where he has worked for the last five years, most recently as a Senior Investment Consultant delivering investment strategy advice to a number of large pension scheme clients.
Benjamin Reid, CEO of PensionsFirst Analytics comments “Having set ourselves the challenge of transforming the way risk is measured and managed in the DB pensions industry, we are now seeing a rapid adoption of the methodologies we have introduced and have an aggressive recruitment plan to support our growing client base. Johanna and Simon are both great additions to our team with strong track records in their fields.”
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About PensionsFirst
PensionsFirst provides advanced risk management and advisory services to the defined benefit pensions industry. PensionsFirst aims to transform the way pension scheme sponsors and trustees measure and manage pension risk.
PensionsFirst is a very fast growing company with a highly experienced team of over 70 professionals drawn from the actuarial, capital markets and technology industries. This combination of different spheres of expertise brings an entirely new perspective to the problem of measuring and managing DB scheme risk, namely, a keen understanding of risk, the need for up to the minute and detailed data, and best practice, auditable methods.
PensionsFirst launched PFaroe® in November 2009 as a web-based service aimed at delivering fast, accurate and up-to-date scheme information, allowing users to see assets and liabilities on a single platform, analyse cash flows and conduct scenario analysis in real time. Users of PFaroe include Aga Rangemaster Group, Daily Mail & General Trust and HSBC.
Recent developments
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In April 2010, State Street, one of the world’s leading providers of financial services to institutional investors, formed a strategic alliance with PensionsFirst marked by a minority investment in PensionsFirst Analytics
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Dell was so impressed with PensionsFirst’s innovative technological approach, they chose PensionsFirst to be a global best practice case study and are featuring PensionsFirst in their global ‘Take your own path’ advertising campaign
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In July 2010, PensionsFirst won two European Pensions awards: European Pensions Innovation and Technology Provider of the Year
For more information please go to www.pensionsfirst.com
Press contact
Frederick Duff Gordon
Moorgate
+44 (0)20 7377 4990
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“The best of the best”
PensionsFirst Analytics wins two hotly contested industry awards
LONDON, 2 July, 2010 — PensionsFirst Analytics has received two awards from European Pensions, the leading trade publication for the European pensions industry. PensionsFirst Analytics accepted European Pensions’ special new award for “European Pensions Innovation” and the award for “Pensions Technology Provider of the Year” at the European Pensions Awards ceremony, Lancaster London Hotel, on Thursday 1 July 2010.
Now in their third year, the European Pensions Awards were set up to honour investment firms, consultancies and pension providers across Europe that set the highest standards for services to European pension funds.
Ten organisations were short listed for the new European Pensions Innovation award, including Towers Watson, Mercer and Aegon.
Benjamin Reid, CEO of PensionsFirst Analytics, says, “We are honoured to receive these awards, voted for by the distinguished panel of judges from all corners of the pension industry. They are a strong endorsement of our unique proposition for pension schemes.”
Eight providers were shortlisted for the Pensions Technology Provider of the Year award, including Towers Watson and Friends Provident. PensionsFirst Analytics was the unanimous choice of the judges.
Fiona Page, CTO of PensionsFirst Analytics who accepted the awards from TV personality Ruby Wax, says, “These two awards are a huge reward for our remarkable team, which has taken a vision to change the way the DB industry measures and manages risk and created a world class product. The awards are also an endorsement of our unique approach to product development, which combines input from our broad skills base, including pensions, capital markets and technology. As a result PFaroe will provide pension managers worldwide with a powerful and intuitive tool for managing risk.”
Award details (from the European Pensions website)
“European Pensions Innovation”
The Innovation award is for firms that have brought innovation to the pensions marketplace, be it through a particular product, service offering or overall business approach. This is a new category launched this year, designed in response to the market volatility and to recognise those firms that have responded to market pressures with originality and creativity.
“Pensions Technology Provider of the Year”
Effective and reliable pensions technology is essential for the successful running of any pension fund. This award will recognise those firms that are leaders in the field of pensions technology, and ultimately reward who is the best of the best.
The judging panel for the 2010 Awards was made up of 28 judges from across the European pensions industry, including providers, pension funds, consultants and representatives from various European pensions and investment associations. A detailed explanation of the judges' final decisions is to be published in the European Pensions Awards write-up after the Awards ceremony taking place on 1 July 2010.
About PensionsFirst Analytics
PensionsFirst Analytics provides advanced risk management and advisory services to the defined benefit pensions industry. PensionsFirst Analytics aims to transform the way pension scheme sponsors and trustees measure and manage pension risk.
PensionsFirst Analytics launched PFaroe® in November 2009 as a web-based service aimed at delivering fast, accurate and up-to-date scheme information, allowing users to see assets and liabilities on a single platform, analyse cash flows and conduct scenario analysis in realtime.
PensionsFirst Analytics has a highlyexperienced and growing team from the actuarial, capital markets and technology industries. This multi-disciplinary combination brings a new perspective to the problem of measuring and managing defined benefit pension risk. For more information visit PensionsFirst Analytics at www.pensionsfirstanalytics.com
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Dell was so impressed with the innovative way we had used and adapted their technology that they have decided to use PensionsFirst as a case study – not just for the UK but on their global website. This is one of the first video case studies they have created on any of their customers.
You can see the PDF here or watch the movie.
State Street and PensionsFirst Analytics Form Strategic Alliance to Offer Enhanced Capabilities to Defined Benefit Pensions Industry
BOSTON and LONDON, 15 April, 2010 — State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, and PensionsFirst Analytics (PFA), a UK-based company providing advanced risk management and advisory services to the global defined benefits (DB) pensions industry, today announced a new strategic alliance marked by State Street’s minority equity investment in PFA.
PFA recently launched PFaroe®, a Web-based service that it expects to significantly enhance the measurement and management of DB pension risk. PFaroe provides an actionable view of plan assets and liabilities on a single platform believed to be unique in the industry. This new capability will enable pension sponsors, trustees and advisors to access detailed cash flow projections and scenario analysis. With this expanded analytics toolset, sponsors, trustees and advisors will be able to make better-informed and more timely investment and de-risking decisions.
“This alliance with PensionsFirst Analytics enables State Street to further enhance the services we bring to DB plan sponsors and reaffirms our strong commitment to this client segment,” said Joseph Antonellis, vice chairman of State Street. “With concerns about underfunded pensions and the difficulty of accurately measuring liabilities, this innovative new product provides an enhanced level of transparency and insight into pension risk. We believe this strategic partnership creates a truly unique offering to our clients and provides a competitive advantage to both State Street and PFA.”
State Street is a leading servicer of pension schemes, servicing more than 2,500 schemes worldwide. The company also manages more than $550 billion in defined benefit pension assets*.
Benjamin Reid, chief executive officer of PFA believes the strategic alliance will rapidly accelerate PFA’s expansion and entry into the US market.
“We are delighted to have received this endorsement of PFA and PFaroe,” said Reid. “State Street has a well-deserved reputation for identifying and investing in the right partners to provide clients with access to new and innovative solutions. Their large client base of pension funds worldwide represents an unparalleled opportunity for PFA to expand its offering to new customers.”
“This step is innovative, necessary and welcomed by the industry,” said Joe Moody, SSgA’s global head of Liability Driven Investing. “PFaroe is designed for users with no specialist actuarial expertise and significantly reduces the time it takes to value pension liabilities and assets from months to hours and is designed to help managers of DB risk truly understand both sides of the balance sheet.”
As part of State Street’s investment in PFA, Joseph Antonellis has joined PFA’s board as non-executive chairman. Separately, Amelia Fawcett, a State Street board member since 2006, resigned from the board of PensionsFirst Group in March 2010, effective upon the selection of her replacement. PensionsFirst Group is the majority equity owner of PFA.
Note: *AUM as of December 31, 2009
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About PensionsFirst Analytics
London-based PensionsFirst Analytics provides advanced risk management and advisory services to the defined benefit pensions industry. PFA aims to transform the way pension scheme sponsors and trustees measure and manage pension risk.
PFA launched PFaroe® in November 2009 as a Web-based service aimed at delivering fast, accurate and up-to-date scheme information, allowing users to see assets and liabilities on a single platform, analyse cash flows and conduct scenario analysis in realtime.
PensionsFirst Analytics has a highlyexperienced and growing team from the actuarial, capital markets and technology industries. This multi-disciplinary combination brings a new perspective to the problem of measuring and managing defined benefit pension risk. For more information visit PensionsFirst Analytics at www.pensionsfirstanalytics.com.
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management, and investment research and trading. With $18.8 trillion in assets under custody and administration and $1.9 trillion in assets under management at December 31, 2009, State Street operates in 25 countries and more than 100 geographic markets worldwide. For more information, visit State Street at www.statestreet.com.
About State Street Global Advisors
State Street Global Advisors, investment management business of State Street Corporation (NYSE: STT), delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.9 trillion in assets under management at December 31, 2009, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Montreal, Paris, Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 26 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.
For additional information, please contact:
For PensionsFirst Analytics:
Frederick Duff Gordon
Moorgate Communications
frederick.dg@moorgategroup.com
+44 (0)20 7377 4996
For State Street:
Stephen Sheppard
Citigate Dewe Rogerson
stephen.sheppard@citigatedr.co.uk
+44 (0)20 7282 1025
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PensionsFirst Analytics continues to expand with three senior IT appointments
Ground-breaking pensions analytics company cements IT leadership with three new directorships
PensionsFirst Analytics (PFA) has appointed an IT Director and two Product Development Directors – all of whom are instrumental in developing PFA’s web-based platform PFaroe. Launched in November 2009, PFaroe allows DB pensions trustees and sponsors to manage and measure risk precisely, and means non-technical users can analyse pension assets and liabilities in a timely manner.
Dean Newman is PFA’s new IT Director and is tasked with building an infrastructure fit for a global business. Having previously led infrastructure projects for companies such as Barclays and Alliance Boots, Newman brings a wealth of experience around building scalable and robust technology.
Comments Newman: “I am very excited about joining PensionsFirst, having the opportunity to work in an environment that constantly challenges the norm, pushes the boundaries of technology and has a team of highly talented people working to a common goal."
Nick Francis joins PFA as a Director of Product Development to lead the development of PFaroe, after a period consulting for the company. He joins after successfully running Sentient for 17 years – a well respected IT consultancy that partnered with Microsoft to work with blue-chip clients on enterprise projects. Francis used his experience in massively parallel processing while he worked closely with the Microsoft product team on their Windows Azure cloud computing platform and produced the first commercial application hosted in Azure.
“My motivation was to stay with a fantastic team to continue to develop this ground-breaking project,” says Francis. “This is data-warehousing on a vast scale – multiprocessing major industry names. This really is a cutting-edge platform.”
Finally, Matthew Seymour joins as a Director of Product Development. Formerly the CTO of FundWorks, a global SaaS provider to the asset management industry, Seymour has joined PFA to lead the growth and delivery of PFaroe.
“After seeing the transformative potential of PFaroe,” says Seymour, “I thought the opportunity too good to pass up. PFA has a unique mix of being entrepreneurial, flexible and dynamic enough to cope with change, but sufficiently well-resourced to deliver an uncompromised solution.”
All three will report to Fiona Page, Partner and CTO at PFA.
“These three appointments will help PFA continue towards its goal of transforming defined benefit pensions risk management. We are delighted to have attracted three individuals of such high calibre.”
Contact:
Fred Duff Gordon, Moorgate Communications +44 (0)20 7377 4996
Notes to editors:
About PensionsFirst Analytics
London based PensionsFirst Analytics LLP provides advanced risk management and advisory services to the defined benefit (DB) pensions industry. PFA aims to transform the way pension scheme sponsors and trustees measure and manage their pension risk.
PFA launched PFaroe in November 2009 as a web-based service that delivers fast, accurate and up-to-date scheme information. For the first time it allows users to see assets and liabilities on a single platform, analyse cashflows and conduct scenario analysis in real-time.
PensionsFirst Analytics has a highly-experienced and growing team from the actuarial, capital markets and technology industries. This multi-disciplinary combination brings a new perspective to the problem of measuring and managing DB pension risk.
PensionsFirst Analytics creates sales team with FIVE key appointments
Innovative pension risk analytics provider increases sales capabilities in response to market interest in its web-based service – PFaroe.
PensionsFirst Analytics – the company launched in November 2009 and focused on measuring and managing defined benefit (DB) pensions risk – has appointed a Head of Sales, a Vice President for Client Solutions and has made three further sales-oriented appointments.
Kim Lewin has joined the company as Head of Sales and will focus on marketing PensionsFirst Analytics’ managed services to the largest UK pension funds. Lewin joins from SumTotal Software, where he had been Vice President of Sales for the EMEA region since 2007.
This is an exciting challenge given the uniqueness of our web-based managed service – PFaroe – and the overwhelming support from both investors and clients,” says Lewin.
PFaroe is aimed at bringing new levels of precision to the measurement and management of DB pensions risk. A unique DB risk management platform, PFaroe combines liability and asset analytics to provide fast, accurate and up-to-date scheme information for pension fund sponsors, trustees and actuaries.
Lewin will report to Benjamin Reid, CEO of PensionsFirst Analytics.
“We are in the process of an ambitious roll-out for PFaroe to major UK pension funds and are very encouraged by their initial response,” says Reid. “These new appointments will help us present our industry-changing services to potential new customers.”
A further appointment points to PensionsFirst Analytics also deepening the client experience. Matthew Bale joins the firm as Vice President of Client Solutions – an actuarial role helping clients gain a precise understanding of their pension scheme risk profile and potential de-risking strategies. Prior to joining PensionsFirst Analytics, Bale spent three years at Citibank’s Insurance and Pensions Structured Solutions Group focusing on the management of defined benefit pension risk.
There are three further additions to PensionsFirst Analytics’ sales team. Charles Peach joins as a Vice President of Sales. He previously worked for Nomura’s managed products and exotic credit trading business. In addition, Andy Hutt has joined as an Assistant Vice President of Sales. Hutt has over 20 years in the IT sector – his last position being as a sales manager for SumTotal UK. Ian Crompton also joins PensionsFirst Analytics as an Assistant Vice President of Sales. He spent the previous two years in executive sales for ID Support Services.
“The new line-up brings together a rare combination of talent,” says Reid. “The breadth and depth of experience they bring from the technology, pensions and capital markets sectors means the company can offer clients a new and unique approach to defining and managing the complex risks facing their pension schemes.”
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For additional information, please contact:
Fred Duff Gordon
Moorgate Communications Ltd.
+44 (0) 20 7377 4996
Notes to editors:
PensionsFirst Analytics (PFA) provides advanced risk management and advisory services to the defined benefit (DB) pensions industry. PFA aims to transform the way pension scheme sponsors and trustees take control of their pension risk.
PFA launched PFaroe® in November 2009, a web-based service that delivers fast, accurate and up-to-date scheme information. For the first time it allows users to see assets and liabilities on one platform, analyse cashflows and conduct scenario analysis in real-time.
PensionsFirst Analytics has a highly-experienced and growing team from the actuarial, capital markets and technology industries. This multi-disciplinary combination brings a new perspective to the problem of measuring and managing DB pension risk.
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PensionsFirst announces appointment of Simon Parr and Rob Stuart
Two new senior personnel join rapidly expanding group
PensionsFirst Group LLP today announced the appointment of two new key hires as the business continues its ambitious expansion plans. Simon Parr joins as Finance Director and Rob Stuart as General Counsel.
The new appointments follow on from the launch of PFaroe®, the industry changing web-based service for managing DB risk exposure, introduced last month by PensionsFirst Analytics.
Simon was previously Group Financial Controller at IAG-UK, where he managed the central finance function and played a key role in restructuring the UK business. Prior to this, Simon was at Barclays Bank PLC from 1997 until 2007, working in a range of senior finance roles including Head of Finance – Barclays Private Banking Americas; Financial Controller – Barclays Private Bank and Finance Director – General Insurance. Simon played a leading role in the re-launch of Barclay’s general insurance business which became the UK’s fastest growing insurer. Simon’s final role in Barclays gave him responsibility for the Retail Bank’s total insurance profit and loss as Finance Director – Barclays Insurance. Simon started his career at Price Waterhouse, becoming a member of the ICAEW in 1996.
Rob joins PensionsFirst from MKM Longboat, a multi-strategy hedge fund. Prior to this, Rob was General Counsel at Imagine Group, the speciality and structured reinsurance firm, which he joined in 2003. Rob began his legal career in private practice in 1992 at Osler, Hoskin & Harcourt, a leading Canadian business law firm, and later practised in Allen & Overy's International Capital Markets department, from 1999 to 2002. He is qualified to practise law in New York, England and Wales, and Ontario (Canada).
Commenting on the two appointments, Timothy Lyons, CEO Pensions First Group LLP, said:
"We welcome Simon and Rob to the fast-growing PensionsFirst team. Their extensive experience within the financial markets will add invaluable strength and depth to our infrastructure at an exciting time in the development of PensionsFirst. PFaroe is already set to bring about a fundamental shift in the pensions landscape in the UK, and we have ambitious plans to bring its ground-breaking qualities to a wider global audience.
"In contrast with much of the financial services industry, we have ambitious expansion plans. We have grown from 22 people in June of this year to over 50 and expect the team to double in size again over the next year with the launch of PFaroe in the US in the first half of 2010. Simon and Rob will play a critical role in managing our company's rapid growth."
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For more information please contact:
Timothy Lyons/Benjamin Reid, PensionsFirst + 44 207 632 9114 / 9112
Gay Collins/John Sarsfield, Penrose Financial + 44 207 786 4823 / 4830
Notes to editors:
PensionsFirst
PensionsFirst Group LLP was launched in November 2007 to provide a unique range of services to the Defined Benefit pensions industry. The PensionsFirst business model is focussed on the concept of ‘journey management’ for DB risk, offering its customers analytics to analyse and measure risk, advisory services to support the management of risk and, where appropriate, capital to support the transfer of risk. The Group comprises two distinct entities – PensionsFirst Analytics, offering risk management analysis and advisory services to the DB pensions industry and PensionsFirst Capital , which provides bespoke investment solutions to DB schemes. PensionsFirst has consistently demonstrated thought-leadership in the DB sector and possesses a highly experienced team with a track record of innovative product development, based on an extensive knowledge of capital markets, pensions and the development of advanced risk analytics.
Benjamin Reid to head up PensionsFirst Analytics
Benjamin Reid has been appointed as Chief Executive Officer of PensionsFirst Analytics, the provider of risk management analytics and advisory services for DB pensions, which this week launched its ground-breaking PFaroe® service.
Benjamin was a founding partner of PensionsFirst which, since its launch in 2007, has grown to employ some 50 people, a figure expected to double in the next year. The group now comprises two distinct entities – PensionsFirst Analytics, offering risk management analysis and advisory services to the DB pensions industry and PensionsFirst Capital, which provides bespoke investment solutions to defined benefit schemes.
Prior to joining PensionsFirst, Benjamin was a Director at Wachovia Securities in New York where he was responsible for the origination of a broad range of asset financings. Before joining Wachovia, Benjamin was the US Managing Director of Burgundy Global, a managed services company specialising in corporate strategy and delivering IT-based ground transportation solutions.
Benjamin began his career on the investment desk of Quadrant Capital, an asset management business, investing in high-grade fixed income products. In 1999 he became a Director of Quadrant and led the company's marketing, business development and distribution until Quadrant sold its operating business to the Bank of New York in 2002.
Commenting on Benjamin Reid's appointment, Timothy Lyons, CEO of PensionsFirst Group LLP, said:
"Given his deep understanding of both capital markets and the critical issues facing managers of DB risk today, Benjamin, with his background in managed services is ideally suited to leading PensionsFirst Analytics and delivering a truly differentiated offering to our customers in the UK and the US.
"With the introduction of PFaroe’s powerful analysis of DB risk exposures, we believe that PensionsFirst Analytics will help to radically change the way trustees and scheme sponsors manage risk and facilitate their use of much more sophisticated risk transfer solutions."
Benjamin Reid, CEO of PensionsFirst Analytics, added:
"PensionsFirst Analytics has been established to offer a level of sophisticated risk analysis and advisory services that has been lacking in the DB industry. One of the reasons DB schemes have become a major management issue for so many corporate sponsors is because they have lacked the appropriate tools and advisory support to measure and manage risk properly. We live in a digital age with increasing focus on standards of corporate governance and out of date paper based reporting of highly volatile financial exposures is no longer adequate.
"PensionsFirst Analytics will change the way DB pension schemes are run because for the first time we will enable managers of DB risk to properly understand their exposures and present them with an objective view of all their options to mitigate the risks. I am very pleased to be leading this exciting initiative and feel that we have a great deal to contribute to the industry."
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For more information please contact:
Benjamin Reid/Timothy Lyons PensionsFirst + 44 207 632 9112 / 9114
Andy Fleming/John Sarsfield, Penrose Financial + 44 207 786 4823 / 4830
www.pensionsfirstanalytics.com
Notes to editors:
PensionsFirst
Launched in 2007, PensionsFirst has a highly experienced team with a track record of innovative product development, based on an extensive knowledge of capital markets, asset management and pensions. In the last two years PensionsFirst has consistently demonstrated thought-leadership in the DB sector, through its pioneering of buy-in solutions and its groundbreaking work on the analysis of longevity. Its business model is based on the concept of ‘journey management’ for DB risk, by offering its customers, analytics to measure risk, advisory services to help manage risk and where appropriate, capital to support the transfer of risk.
PensionsFirst to revolutionise the DB pension industry with actuarial valuations in 24 hours
No more woolly numbers!
In a move set to revolutionise the defined benefit pensions industry, PensionsFirst is launching PFaroe® , a web-based managed service which will bring new levels of precision to the measurement and management of DB risk. In an industry renowned for opaque and woolly reporting, leaving it increasingly out of step with modern standards of corporate governance, PFaroe offers definition and speed of management information unrivalled by any other provider.
PFaroe provides clarity, timeliness and definition to the valuation and understanding of the complex area of DB risk - something the industry has lacked for far too long. PFaroe® does this by generating actuarial valuations within 24 hours, in a clearly presented format supported by detailed and transparent assumptions. Cashflows are produced at an individual scheme member level and for each scheme asset, allowing users to conduct multiple, user defined scenario analyses.
PFaroe® delivers accounting, actuarial and solvency valuations on demand on a 24 hour turnaround, regardless of scheme size.
Despite its sophistication, PFaroe® is designed for users with no actuarial expertise, enabling them to perform instant sensitivity testing on both assets and liabilities by altering assumptions for longevity, interest rates, inflation and investment mix. It also allows users to conduct standard VaR analysis or scenario testing, and refine benefit design. In addition, because it is web-based and available to sponsors, trustees and consultants, PFaroe® provides a powerful tool to facilitate consensus in negotiation between the scheme stakeholders.
The launch of PFaroe® follows a rigorous beta-testing program in conjunction with several leading UK companies, including Aga Rangemaster Group, Alliance Boots, Daily Mail & General Trust and JPMorgan Cazenove. These schemes account for £8bn of liabilities and 150,000 members. A beta program for selected US customers is scheduled to commence in the first quarter of 2010.
Benjamin Reid, Partner and CEO of PensionsFirst Analytics, said:
"Recent volatility in the financial market has dramatically exposed the fact that the DB industry significantly lags behind modern management practices in other sectors of the financial markets. This is because trustees and scheme sponsors have not had access to the appropriate tools to accurately measure and manage their scheme risks and as a result most pension trustees, CFOs and corporate treasurers lack an accurate picture of the risks to which the sponsoring company’s balance sheet - and therefore its shareholders - are exposed. Quite simply, if you can’t measure risk, you can’t manage it.
"Having developed PFaroe initially to manage our own exposure to DB risk, we have decided to make PFaroe® available to all managers of DB risk, because we believe it is vital that standards of risk management in the sector are radically improved. PFaroe will provide DB managers, for the first time, with a clear understanding of their risk exposures and it will completely change the way they manage risk."
Comments from beta customers:
“In a few years time we will ask ourselves how we ever managed without a tool like this.”
CEO, beta customer - April 2009
“For the first time, it allows you to have the risk-conversation.”
Pensions Manager, beta customer - May 2009
“PFaroe borders on the brilliant.”
Pensions Manager, beta customer - May 2009
“Every time I see PFaroe in operation … I wonder how trustees manage their
schemes without a tool like this.… every trustee board in the land will want it … and it will completely change the way they run their schemes.”
Trustee, beta customer - June 2009
“The availability of detailed and timely reporting on a scheme’s liabilities … bridges the gap for asset managers considering more sophisticated investment
strategies.”
Investment Committee Member, beta customer - September 2009
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For more information please contact:
Timothy Lyons/Benjamin Reid, PensionsFirst + 44 207 632 9114 / 9112
Andy Fleming/John Sarsfield Penrose Financial + 44 207 786 4823 / 4830
www.pensionsfirstanalytics.com
Notes to editors:
PensionsFirst
Launched in 2007, PensionsFirst has a highly experienced team with a track record of innovative product development, based on an extensive knowledge of capital markets, asset management and pensions. In the last two years PensionsFirst has consistently demonstrated thought-leadership in the defined benefit ("DB") pensions sector, through its pioneering of buy-in solutions and its groundbreaking work on the analysis of longevity. Its business model is based on the concept of ‘journey management’ for DB risk, by offering its customers, analytics to measure risk, advisory services to help manage risk and where appropriate, capital to support the transfer of risk.