Hymans Robertson appoints Head of Non-Traditional Risk Transfer
Hymans Robertson has promoted Consultant Actuary Kieran Mistry to the role of Head of Non-Traditional Risk Transfer. Mistry takes the lead on the firm’s newest advisory line, and will work to ensure clients are able to access and utilise its offered risk transfer tools.
The UK pensions and actuarial consulting market currently is worth more than £2.5 billion; and having reported annual revenues of around £96 million for 2020, Hymans Robertson is one of the market's top ten players. As the firm looks to grow its offering to clients, amid a challenging and uncertain environment, it has launched a new defined benefit advisory unit, which will help trustees and plan sponsors considering risk transfer options such as outsourcing to consolidators or capital-backed solutions, rather than buy-ins or buyouts.
At the head of this new unit, Hymans Robertson has now appointed industry expert Kieran Mistry. Having spent the last six years with the consultancy, Mistry will now lead the firm’s advisory service, supporting defined benefit trustees and sponsors considering new and emerging risk transfer options such as superfunds, capital-backed solutions and insurance products.
In a LinkedIn post on the news, James Mullins, Partner and Head of Risk Transfer Solutions at Hymans Robertson, said, “Many congratulations to Kieran on becoming Head of Non-Traditional Risk Transfer. He'll do a brilliant job at helping trustees and sponsoring employers in this interesting and growing area.”
Mistry first joined Hymans Robertson in 2014, arriving as a Consultant Actuary. He joined from Big Four firm Deloitte, where he held the same role for two years. During his time with both firms he has been based in Birmingham.
Commenting on the new role, Mistry said, “We’ve seen rapid growth in the number of risk transfer options available over recent years… I’m thrilled to take the lead on this advisory service to ensure our clients are able to assess and utilise these new risk transfer tools, incorporating into their endgame strategies, to support better outcomes for their members”
According to Mistry, capital providers are continuing to explore new ways to support schemes other than through traditional solutions such as buy-ins, buyouts and longevity swaps. In this context, “while superfunds are grabbing much of the headlines,” other areas are quietly gaining traction “with some getting first transactions over the line in 2020.” Hymans Robertson will look to support this timely innovation, adding tools to help trustees and sponsors looking to manage risk against a historically tough economic backdrop.
