Pensions  

Mercer appoints pension administration chief

Mercer appoints pension administration chief

Mercer has appointed Malcolm Reynolds as UK head of pension administration.

Mr Reynolds (pictured) joins from JLT, which was snapped up by Mercer's parent company for £4.3bn in 2018,  where he was managing director of the pension administration business.

In his new role he will lead a team of 2,500 employees across the UK and India and will report to Mercer’s UK head of wealth Benoit Hudon. Mr Reynolds will also join the firm’s UK leadership team.

Mr Reynolds has 30 years’ experience in the pension industry, including the past 17 years at JLT.

Prior to JLT he was a director at PWC responsible for leading its pension management consultancy business across Europe, Middle East and Africa.

He said: “I am delighted to be given the opportunity to lead the UK’s largest pension administration business.

“Through the recent acquisition of JLT by Marsh & McLennan, two strong administration businesses are now coming together. We are combining the best of each business to create the most compelling offer available in the market, for the benefit of scheme members.

"By supplementing our traditional pension administration capabilities with digital solutions and financial planning capabilities, our key focus is on ensuring scheme members achieve good outcomes, whether that be through retirement or a transfer, and that those stepping into the next phase of their lives experience a smooth transition.”

In 2015 Mercer, which is a wholly-owned subsidiary of Marsh & McLennan, completed the acquisition purchase of Jelf Financial Planning to increase its ability to offer financial advice to companies and their employees.

Mercer re-launched the Mercer Jelf Financial Planning brand in 2016 following a major business restructure.

The company stated at the time it was responding to increased demand from employers to facilitate "impartial guidance and financial advice" for their employees.

Last November Mr Hudon told FTAdviser the financial planning arm now had a team of 200 and had the capacity to double in size over the next five years.

Mr Hudon said today: “Given his years of success in building and innovating in the pension administration arena, Malcolm will be an asset to our wealth business and UK leadership team.

"I am very pleased to announce his appointment and through it reinforce our long term commitment to UK pension administration.”

carmen.reichman@ft.com