Buck undergoes big restructure

Buck undergoes big restructure

Bucks Consultants (Buck) has announced a restructure and two new senior appointments.

The reshuffle will create two new divisions, one called corporate solutions and the other, trustee services.

Corporate solutions will oversee employee benefits directly managed by the companies, incorporating Buck’s health and productivity, defined contribution (DC) and wealth, talent and HR solutions, flex and employee share plan administration services.

“Employers are looking for an integrated approach for DC pensions, combining flex administration, consulting and benefit programme management,” said Steven White, managing director, Europe, at Buck.

He said that the corporate solutions division would meet this growing demand.

John Deacon, previously director and head of Helm Corporate at Helm Godfrey, will be head of corporate solutions. Ed Smithson, who was deputy head of Helm Corporate at Helm Godfrey, will report to Deacon and oversee Buck’s flex and share plan services.

John Yates, formally a benefits and DC consultant and client manager formerly of Helm Godfrey, will also join the corporate solutions division.

“John , Ed and John will join us at a time of change in the world of corporate benefits, with increasing focus on corporate DC, flex benefit programmes, share plans, HR technology, risk broking and wellness,” said White.

“Their appointments will reinforce Buck’s ability to work with clients to design appropriate employee benefit schemes.”

Trustee services will support trust-based defined benefit (DB) and DC schemes, including services for actuarial and non-actuarial consulting, investment consulting, group risk brokering and pensions administration. David Piltz, who has been with the company for 18 years, has been appointed head of trustee services.

Although the number of DB plans in the UK are falling quite slowly, total DB plan asset values continue to rise which White said creates a demand for specialist actuarial and consulting expertise, investment consulting strength and a strong administration platform for trustees.

“Structuring our trustee services into one division will enable us to provide this expertise to many more DB pension plans,” added White.

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