Steve Deverell-Smith joins First Actuarial amid rapid growth
Experienced actuary Steve Deverell-Smith has joined First Actuarial as a consultant. He arrives from WTW.
Speaking on his move, Deverell-Smith commented, “First Actuarial is the hidden gem of the pensions consultancy world. The partners and staff have a strong sense of purpose and take real pride in what they do. The focus is clear – we do the right thing for our clients, and we’re flexible in our approach so we can deliver the services they need. And we do it all for a fair price. That for me is the real essence of First Actuarial, and the people I have met since joining really embrace these values.”
An actuary with almost two decades’ experience in the pensions industry, Deverell-Smith will provide employer services to First Actuarial’s growing private sector client base, drawing on his extensive experience of delivering corporate advice. He will be based in the firm’s Manchester office, which has almost 90 professionals.
Prior to joining First Actuarial, Deverell-Smith has spent his career advising trustees and employers alike on a range of pension-related issues. He began his career as a specialist in KPMG’s pensions team before spending over a decade at WTW. There, he helped a wide range of sponsors, from multinationals through to family-owned businesses, grappling with their divergent pension-related challenges.
Commenting on his new challenge, he added, “It’s an exciting time to be joining First Actuarial. Growth is important to the business, but there’s a recognition across the firm that it must be done in a way that is sustainable, allowing us to continue to meet client expectations without jeopardising the core values of First Actuarial. I hope to play my part in balancing growth with client care.”
Over the last 18 months, UK pension schemes have endured mixed results. According to Deverell-Smith, while some have found themselves “hitting their objectives much earlier than expected”, many are unsure on what to do next, amid a number of major headwinds.
“Whether their next step is buy-out or one of the ever-growing list of ‘new world’ alternatives,” he concludes, “First Actuarial is perfectly placed to offer fresh thinking and independent services.”
First Actuarial is a consulting firm which specialises in pension advisory services. Founded in 2004, its last financial year saw the firm is headquartered in Leeds, but also has UK offices in Manchester, Peterborough, Tonbridge and Basingstoke.
Amid the continued uncertainty in the pensions sector, its services have been in keen demand of late. First Actuarial reported record revenue levels this year, with with turnover growing by 19% in the year to 31 July 2023. Meanwhile, headcount across the firm’s five offices now tops 430.
