Redington hires Maggie Kearney from Accenture's pensions team

29 October 2020 Consultancy.uk
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Actuarial consultancy Redington has appointed a new Director to its defined contribution team, as the firm looks to support clients amid sustained market volatility. Maggie Kearney joins from Accenture, where she led the company’s UK pension and benefits team.

Jonathan Parker, who was installed as Redington’s Head of Defined Contribution in July, said of the news, “Maggie’s vast and varied experience means she brings a fresh perspective to the team which will be invaluable as we seek to further expand our offering. We are so pleased to welcome her on board.”

The new Director joins Redington following a 30-year career in consulting and actuarial work. Most recently, this saw her head up Accenture’s pension and benefits team in the UK, having previously held various DC-focused roles at Aon Hewitt and Hazell Carr. Kearney is also a Fellow of the Institute of Actuaries, and holds a degree in Actuarial Studies from Macquarie University.

Maggie Kearney, Director, Redington

Commenting on why she made the switch, Kearney remarked, “Redington is known for putting the financial security of savers at the heart of what they do, something which is so important in our world. The team have built a fantastic offering in the DC space, underpinned by their award-winning technology proposition.”

“I am excited to play my part in continuing to develop innovative solutions to help employers navigate the ever-evolving challenges surrounding workplace pensions and, ultimately, individual scheme members.”

Founded in 2006, Redington is headquartered in London, and works with pension funds and other long-term savings institutions to solve their biggest problems.

According to the latest data, the UK pensions and actuarial consulting market currently commands combined revenues of around £2.5 billion. Almost three-quarters of UK defined contribution (DC) benefit plans are cash-flow negative, however, placing them in a precarious position amid a volatile geo-political and economic environment – especially as the coronavirus pandemic heaps pressure on investors.

This is where Redington's team of advisors come in. “Over the past few years, we have worked hard to develop a proposition that empowers trustees, independent governance committees and employer sponsors to be smart in driving DC outcomes whilst ensuring best value for money,” said Parker.

In September, the actuarial consultancy appointed Phil Symes as its Chief Financial Officer.