Declan Keohane named head of risk transfer at First Actuarial
First Actuarial has beefed up its risk transfer and buy-out team, with the promotion of Declan Keohane. The longstanding partner at the firm will now head up the booming practice.
Commenting on his appointment, Keohane said, “I’m looking forward to growing our services to support every scheme that needs it. With so much demand for insurers’ buy-out services, preparation counts for a great deal. So I’m building a strong project management capability to add to our risk transfer expertise. This is making every risk transfer project as efficient and organised as possible. We’re also training and developing junior colleagues as we expand the team, which is how we like to work at First Actuarial.”
First Actuarial is a consulting firm which specialises in pension advisory services. Founded in 2004, its last financial year saw the firm enjoy revenues of more than £28 million – including over £1 million in new business. The firm is headquartered in Leeds, but also has UK offices in Manchester, Peterborough, Tonbridge and Basingstoke.
First Actuarial offers a tailored service to identify the right risk transfer solution for pension schemes across the UK – with a specialist risk transfer team advising clients on both buy-outs and buy-ins, and we work with all the insurers in the market. This is a service which is proving extremely popular at the moment, and Keohane’s appointment as head of risk transfer comes at a time when improvements in scheme funding and increased governance responsibilities make risk transfer an attractive and achievable option for many trustees.
His appointment will prove an important move in meeting this demand – with Keohane boasting both actuarial skills and specialist risk transfer experience make him the ideal business leader for this expanding area. As increasing numbers of trustees explore options such as buy-out, he will further develop First Actuarial’s risk transfer function to meet demand and deliver the best possible outcomes for clients.
Speaking on First Actuarial’s current offering in the area, Keohane added, “We look at the full range of risk transfer options. With more alternatives becoming available, we’re supporting many schemes through the decision-making and selection process. Following the Mansion House reform discussions, I’m expecting more employers to consider alternatives to winding up their scheme.”
Keohane brings over 30 years of pensions consulting experience to the position, and has been spending more and more time advising on buy-ins and buy-outs in recent years. He joined First Actuarial in 2007 and became a partner in 2011. This followed stints with Aon and Lane Clark & Peacock – as well as having studied actuarial science at university.
Looking ahead, Keohane concluded, “We’re growing our team, developing the resources and expertise to lead clients of any size through a risk transfer project. We’ve pulled together a multidisciplinary team – covering actuarial, investment, defined contribution, project management and scheme administration – which are all impacted by risk transfers. This will give clients the end-to-end support they need. I’m confident that we can find a home for any scheme that wants to go to market.”
