Hymans Robertson appoints new Head of DC Investment
William Chan has been named the new Head of Defined Contribution (DC) Investment at actuarial consultancy Hymans Robertson. Chan’s promotion comes after spending five years in the firm’s DC research wing.
The UK pensions and actuarial consulting market currently commands combined revenues of around £2.5 billion, with that number likely to rise further in the near future. The dominant three firms in the UK pension consulting arena bring in over half of that figure; and with annual revenues of £85 million, Hymans Robertson is the eighth largest player in the market.
As the firm prepared for a busy 2020, Hymans Robertson appointed Victoria Panormo as a Senior Defined Contribution Investment Consultant in December. Panormo’s expertise includes working as a consultant and client service manager, serving a portfolio of DC clients from a wide range of backgrounds across a variety of corporate sectors in the UK. The firm has now followed that by naming a new Head of DC Investment.
Operating from London, William Chan has been promoted to the role after five years at the firm, where he has most recently led on DC research, focusing particularly on diversified growth funds, multi-factor equities, ESG funds, and pre and post-retirement solutions. He will now work on Hymans Robertson’s DC investment proposition, portfolio construction, and implementation.
Hymans Robertson’s Head of DC Mark Jaffray commented, “William has been a real asset to the DC consulting team since he joined. He has been a driving force behind the development of our investment strategy design and more recently our responsible investment proposition for DC.”
Chan brings 15 years of experience as an investment consultant to the job, having previously spent a decade with Sydney-based firms JANA Investment Advisers and MLC Implemented Consulting. He holds a degree in Actuarial Studies and Applied Finance from Macquarie University.
Speaking on his promotion, Chan said, “It’s fair to say that DC pensions have transformed over the last decade. I’m really excited to take over this role as DC investment strategies continue to evolve within the emerging environment of consolidation, increased regulation, particularly with regards to responsible investment, and the significant growth in assets that the DC industry will experience in the next decade.”
Britain’s pensions market stands at a key cross-roads in 2020. Almost three-quarters of UK defined benefit plans are cash-flow negative, placing them in a precarious position amid a volatile geo-political and economic environment. Many in the sector are turning to sustainability and diversification drives to shield assets from the increasingly unpredictable market.
