Mn Services, a Dutch fiduciary manager, has continued its drive into the UK market with the appointment of Stephanie Limond as Account Manager in its UK team.
Limond, previously of Blackrock, will report to Remco van Eeuwijk, managing director of Mn Services UK.
Fiduciary services flourished in the Netherlands during the 1990s, and companies such as Mn Services and SEI have been busy trying to convert trustees to the fiduciary model in the UK. Speaking to Global Custodian.com in 2009, Gwion Moore, Head of Investment Strategy at Mn Services Investment Management UK explained that UK pension schemes need to be more proactive in managing their investment risk. The long-term is therefore getting shorter and net contributions are falling quickly. The ability of pension schemes to meet the pension promise to their members therefore increasingly hinge on investment returns relative to liabilities. This calls for a much more pro-active risk management of risks.
Fiduciary services aim to cut out the myriad of consultants and actuaries that advise pension trustees and delegate the running of the scheme to a single fiduciary manager.
Eeuwijk said: We have had a phenomenal 2009 at Mn Services in the UK and we expect to continue that business growth into 2010. Recruiting and retaining staff of a high calibre is essential to our future development and I am confident that Stephanies appointment will be followed by more new recruits to the Mn Services team in the UK in the near future.
See Eeuwijk discussing consultants vs fiduciary managers on GC Multimedia