Amelia Fawcett, former vice-chairman and COO of Morgan Stanley in Europe, has emerged as the chairman of a new venture, Pensions First.
The company plans to use sophisticated financial structures to help defined benefit pension schemes to accurately meet their liabilities. It hopes to bypass issues such as longevity risk, or the chances that some scheme members live longer than was expected.
“We’re not trying to take over people’s pension schemes but we see a huge market for scheme-specific investment solutions that can manage away longevity risk in a way that’s not been done before,” says Fawcett.
Pensions First gained approval from the UK’s Financial Services Authority last month and is expected to launch by the end of the year.