Gavin is our Head of Bulk Annuity consulting, specialising in pension scheme de-risking. He advises pension scheme trustees and corporate sponsors on all aspects of the buy-in and buy-out process, from initial feasibility assessment and scheme preparation, through to price negotiation, execution and implementation.
He has over 20 years of consulting experience advising a wide spectrum of clients on defined benefit (DB) pension issues including scheme funding, benefit design, risk reduction exercises, M&A and accounting matters. Gavin was lead in-house corporate actuary for the FTSE 100 company BAE Systems (with over £20bn of pension liabilities), prior to joining Barnett Waddingham, providing strategic advice on their global benefit arrangements.
His knowledge and experience gained from advising trustees and UK & multi-national businesses, including direct FTSE 100 Board level engagement, both as a consultant and in-house, have helped him develop a clear, practical approach to delivering advice to his clients.
Significant experience:
- Provided extensive bulk annuity and de-risking advice to both trustees and sponsoring employers, including multi-billion pound pension scheme transactions.
- Advised trustee on the high profile BHS2 transaction to secure £800m buy-out of scheme, following BHS insolvency and full member option exercise
- Corporate transaction adviser to Pernod Ricard on the £3.8bn buy-in of the Allied Domecq Pension Fund, insuring both deferred and pensioner members
- Corporate adviser to Tate & Lyle on the completion of their £930m buy-in, securing full scheme insurance coverage
- Transaction adviser on innovative medically underwritten pensioner buy-ins for £300m Renold pension scheme
- Advice to range of global businesses on DB pension scheme financing and risk management issues, including FTSE100 on the funding of its £10bn pension scheme.
