Deloitte has acquired the business and assets of the pension scheme administration and actuarial consultancy arm of Kerr Henderson Group – Kerr Henderson (Consultants and Actuaries) Ltd – in a bid to grow its pensions business
The latest transaction, for which financial details have not been disclosed, follows the firm’s acquisition of a portfolio of almost 100 pension schemes from Legal & General’s final salary consulting business in 2017.
The Kerr Henderson Group will continue to operate independently, and provide other financial services within its remit, including private client, workplace pensions, employee benefits and general insurance services.
Mark McClintock, head of Deloitte’s UK pensions business, said: ‘We are pleased to be able to expand our pensions business and welcome 30 new colleagues from Kerr Henderson.
‘The Deloitte team have advised trustee clients for many years and we have been committed to growing this area further.
‘Amid the economic impact of the pandemic, and with many changes affecting the pensions industry, the additional expertise will be invaluable in ensuring clients continue to receive the best service possible.
‘In particular, the transaction boosts our pension scheme administration centre of excellence in Belfast, as part of our commitment to expanding our business in Northern Ireland.’
John Kerr, CEO of Kerr Henderson Group, said:
‘In choosing Deloitte to acquire our defined benefit business we identified similarities in culture, particularly around how we look after our clients and our people. We are delighted that our people will continue to deliver a high quality service for our clients within Deloitte.’
By Pat Sweet