Management Consulting
Aon
Full Credential Description
The W.R. Swann & Co Limited Retirement Benefits Scheme, a £40 million pension scheme associated with the Sheffield-based manufacturer of surgical blades, Swann Morton Ltd, faced challenges related to risk management and cost efficiency. Following an investment strategy review, the trustees identified an opportunity to mitigate these issues by transitioning to a fiduciary management approach. This decision was made after a competitive tender process, leading to the appointment of Aon for fiduciary management services. Aon's tailored solution involved taking over the day-to-day investment decisions while allowing the trustees to maintain control over the strategic direction of the scheme. The onboarding process was streamlined, with assets successfully transitioned within two months of the agreement. The implementation of fiduciary management has already yielded significant benefits, including the achievement of two de-risking triggers ahead of schedule, which alleviated the burden on the trustees. The trustees reported feeling more in control of the scheme's finances despite delegating daily operations to Aon. Aon's initial goal was to reduce risk and enhance stability for both the pension scheme and the associated company. This objective was quickly realized, demonstrating the effectiveness of the fiduciary management approach. Aon has committed to maintaining clear communication with the trustees and scheme members throughout this transition, ensuring that the scheme remains aligned with its long-term goals.