Key Takeaways
- • Mercer has appointed Malcolm Reynolds as UK leader of its pension administration business, following the firm's integration of Jardine Lloyd Thompson (JLT) employee benefits operations.
- • Reynolds brings more than 30 years of pensions experience and spent 17 years at JLT, most recently as Managing Director of JLT's pension administration business.
- • Reynolds will lead a team of over 2,500 employees across 21 locations in the UK and India and will report to Mercer UK Head of Wealth Benoit Hudon.
- • The appointment continues a pattern of talent moving from JLT to Mercer following Marsh & McLennan's £4.3 billion acquisition of JLT in September 2018.
Summary
Mercer's pension administration business has appointed Malcolm Reynolds as its new UK leader, according to Consultancy.uk. Reynolds joins following the merger of Mercer and JLT's Employee Benefits division, which was created after Marsh & McLennan completed its £4.3 billion takeover of JLT in September 2018. The merger produced what the publication describes as the largest pensions consulting business in the UK by turnover.
Reynolds spent the last 17 years of his career at JLT, where he most recently served as Managing Director of the firm's pension administration business. He previously chaired JLT's defined contribution and health businesses. Before joining JLT, he was a Director at PwC, where he led its pension management consultancy business across Europe, the Middle East and Africa. In total he brings more than 30 years of pensions experience to Mercer.
In his new role, Reynolds will head a team of over 2,500 employees across 21 locations in the UK and India. His remit focuses on enhancing client services and solutions to improve member outcomes. He will report to Benoit Hudon, Mercer's UK Head of Wealth, who said Reynolds would be "an asset to our Wealth business and UK leadership team" and that the appointment reinforces Mercer's "long term commitment to UK pension Administration."
The hire follows a broader pattern of cross-over from JLT to Mercer over the past year, including the recent appointment of Steve Sands as UK Financial Planning Leader. Reynolds said the combination of the two administration businesses would create "the most compelling offer available in the market," with digital solutions and financial planning capabilities supplementing traditional pension administration.
Reynolds spent the last 17 years of his career at JLT, where he most recently served as Managing Director of the firm's pension administration business. He previously chaired JLT's defined contribution and health businesses. Before joining JLT, he was a Director at PwC, where he led its pension management consultancy business across Europe, the Middle East and Africa. In total he brings more than 30 years of pensions experience to Mercer.
In his new role, Reynolds will head a team of over 2,500 employees across 21 locations in the UK and India. His remit focuses on enhancing client services and solutions to improve member outcomes. He will report to Benoit Hudon, Mercer's UK Head of Wealth, who said Reynolds would be "an asset to our Wealth business and UK leadership team" and that the appointment reinforces Mercer's "long term commitment to UK pension Administration."
The hire follows a broader pattern of cross-over from JLT to Mercer over the past year, including the recent appointment of Steve Sands as UK Financial Planning Leader. Reynolds said the combination of the two administration businesses would create "the most compelling offer available in the market," with digital solutions and financial planning capabilities supplementing traditional pension administration.
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