Sodexo, one of the largest catering firms in the UK, has hired Hymans Robertson to support the firm with pensions and investment advisory services.
In the UK and Ireland, Sodexo has more than 35,000 employees serving clients in over 2,000 locations.
With the objective of improving its pensions plan*, for both its employees and from an efficiency point of view, the management team of Sodexo last year embarked on a search for an external advisor. Following a competitive tender process, and the evaluation of several bids, the catering firm’s decision fell in the favour of Hymans Robertson, one of UK’s largest pensions and risk consultancy. “We were impressed by the Hymans Robertson team and their open collaborative approach and fresh ideas. It was clear from the presentation that Hymans Robertson shares our core values making them the perfect fit,” explains Angela Williams, Group HR Director at Sodexo UK.
In the months to come, Hymans Robertson will support Sodexo in reviewing and refining a long term funding and investment strategy for its UK pension fund, as well as providing ongoing support to the company. It will also work with Sodexo to explore ways of managing the pension risks associated with its public sector support services. Clive Fortes, Partner at Hymans Robertson, says on behalf of his firm that he is “delighted to have been appointed by Sodexo”, and “looks forward to working with them.” Fortes adds: “Sodexo is a very impressive business improving the quality of life for millions of people in the UK and worldwide and I am excited to have the opportunity to help it ensure that its people have the quality of retirement that they deserve.”
Last month Hymans Robertson won another pensions deal in the UK. As part of a contract with Kingfisher, the parent company of among others B&Q and Screwfix, the business advisory serves as the scheme actuary and adviser of its trustee.
* Sodexo’s pension arrangements cover pension scheme members with £600 million of liabilities.