LONDON, October 10, 2024 – The Trustee of the Caffyns Pension Scheme has decided to replace the Scheme’s Fiduciary Manager and appoint WTW following a competitive tender process, intermediated by XPS. Having demonstrated a clear understanding of the Trustee and Company’s journey plan, WTW has been appointed to manage the £60m of assets held by the Scheme.
As fiduciary manager WTW will be responsible for assisting the Trustee in evolving and implementing the Scheme’s investment strategy. This includes access to WTW’s preferred third party investment managers.
Mark Harrison, Chair of the Trustees, Caffyns, said: “The Trustee was impressed with WTW’s understanding of the Scheme’s specific situation and proposal of a robust and competitively priced solution to help us over what will be a critical period for our Scheme. We are very much looking forward to working with WTW as the Scheme moves towards meeting its ultimate goals.”
“We continue to evolve with client needs and this important new relationship with Caffyns Trustees demonstrates the strength of our team and offering.”
Pieter Steyn | WTW Head of Investments Clients GB
Pieter Steyn, WTW Head of Investments Clients GB, said: “We are delighted that the Trustee of the Caffyns Pension Scheme has decided to appoint WTW to manage its investments. We continue to evolve with client needs and this important new relationship with Caffyns Trustees demonstrates the strength of our team and offering. Our new low cost, liquid fiduciary management solution already has seven clients invested with total assets of £940m as of 30 September 2024. The addition of Caffyns Pension Scheme and another recent win will tip assets in the new solution well over the £1bn mark.”
André Kerr, Head of Fiduciary Management Oversight at XPS, said: “The Trustee wanted to appoint a Fiduciary Manager that has the capabilities to successfully manage the Scheme all the way to its final end game and we were delighted to assist them in appointing WTW. WTW showed that they are the right party to support the Trustee by clearly demonstrating how they would take the Scheme right the way through to the conclusion of its journey plan in a way that fully aligned with the Trustee’s objectives. WTW’s understanding of the Scheme’s context alongside the high liquidity and low cost of their solution really stood out in their proposal.”
WTW manages over $167bn* in outsourced investment and fiduciary management solutions globally.
*WTW Assets under Management calculated 30 June 2024
WTW’s Investments business is focused on creating financial value for end investors through its expertise in risk assessment, strategic asset allocation, fiduciary management and investment manager selection. It has over 900 colleagues worldwide, more than 1,000 investment clients globally, assets under advisory of over US$4.2 trillion and US$167 billion of assets under management.
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
