Buck announces UK launch of pensions consulting services
Pension and benefits services provider, Buck, has launched into the UK to offer consulting, administration, and technology solutions to businesses and pension scheme trustees. The firm only regained independence as a brand last year, but is keen to push ahead with an ambitious expansion programme in 2019.
Before being acquired by Mellon in 1997, Buck was an independent company. Affiliated Computer Services (ACS) then purchased Buck in 2005, before ACS was itself acquired by Xerox for $6.4 billion four years later. In 2014, Xerox brought Buck under its branding, seeing the Buck brand exit the consulting stage after around a century of business. Following the further spin-off of Xerox’s human resources arm, which included Buck Consultants, into a new business process services company called Conduent HR Services, the firm regained its independence in May 2018, thanks to an injection of private equity funding from H.I.G. Capital.
Having re-emerged into the consulting industry as its own brand, Buck since rebranded, and launched a new AI-powered HR technology platform in the US. Now, as it looks to pursue global ambitions for major expansion, Buck has followed this up by announcing it will launch a pensions and benefits wing in the UK.
According to a release from the firm, Buck will provide a range of actuarial and investment consulting services to trustees and company sponsors of UK pension schemes, as well as outsourced/co-sourced pensions administration, covering both defined benefit and defined contribution provision. At the same time, Buck hopes to improve the experience of its UK employees through benefits programmes which increase staff engagement and motivation.
Commenting on the launch, David Piltz, Buck’s UK Managing Director, said, “The UK launch of the new Buck aims to use the extensive experience of our team with the advantages that technology-driven solutions bring to both pension schemes and employee benefits within a business… Whether it’s providing an effective pension fund risk management strategy, or offering opportunities for individuals to better understand their personal finances, we aim to exceed our clients’ expectations by being nimble and easy to do business with, and combining our vast expertise with the very latest technology and decision-making tools.”
Jack Freker, Chief Executive Officer, added, “At Buck, we are dedicated to working with organisations to meet the changing expectations of their people by drawing upon on the breadth of expertise and talent within our team whilst looking to the future through our technology innovation. Our UK business has always been fundamental to the strength and growth of our organisation and I’m confident that this new chapter in our history will build upon this as we continue to evolve and expand.”
