Category: Press Releases

Benedicte Rabier Joins AllenbridgeEpic

AllenbridgeEpic Investment Advisers (AllenbridgeEpic), a leading investment adviser to UK pension funds, is pleased to announce that Benedicte Rabier has joined its team as a Sector Specialist.

Benedicte has over 12 years’ experience within the hedge fund industry and more generally on alternative investments. She has worked primarily on the equity derivatives desks of investments banks, such as Societe Generale Asset Management (Paris), Natixis (New York), Lehman Brothers (New York) and Barclays (New York and London). She ran fund derivatives trading books and held funds positions as collateral under the structured products she traded. Her clients were mainly funds of hedge funds and family offices. During her career, she covered hedge funds and mutual funds risk, strategy analysis, due diligence, manager selection, portfolio allocation and managed accounts. She also has 10 years’ experience in complex structured investment products such as constant proportion portfolio insurance, UCITS wrapping, variable funding notes, usage of conduits and special purpose vehicles.

Anthony Yadgaroff, Chairman of AllenbridgeEpic, said:
‘We are delighted that Benedicte has joined us as a Sector Specialist focused on alternative investments. With her derivative experience and banking background, Benedicte brings considerable knowledge in investment structuring to the team and further strengthens our hedge fund due diligence capabilities. As the investment markets continue to increase in complexity, and the need for expert due diligence of investments and in-depth structuring knowledge continues to ramp-up, we will continue providing the specialist know-how that our clients need.’

Benedicte Rabier said:
‘I am very pleased to be joining AllenbridgeEpic and its highly experienced team of senior advisers and specialists. I look forward to working closely with the team to expand the independent advisory offering in the alternative investments field and using my fund derivatives expertise to help the team’s continuous effort to deliver services of the highest standard to our ever more sophisticated institutional clients.’


Peter Davies Joins AllenbridgeEpic

AllenbridgeEpic Investment Advisers (AllenbridgeEpic), a leading investment adviser to UK pension funds, is pleased to announce that Peter Davies has joined its team as a Senior Adviser. 

Peter has over 30 years’ experience of investment management ‘ as an equity fund manager, an asset allocator, a discretionary fund manager and, most recently, as an investment consultant. He is the independent adviser to the pension funds of Oxfordshire County Council and the London Borough of Brent.

Much of Peter’s career was spent in the investment arm of AXA Equity & Law where he managed Japanese, Pacific Basin and European equity funds. As Securities Director he led the team of equity and fixed income managers, and also supervised the insurance company’s private equity portfolio. From 2000 to 2006 he was an investment consultant at Cambridge Associates in London, where his clients included endowed charities, educational institutions and families.

Since 2006, as an independent consultant, he has undertaken a variety of client projects including equity, fixed income and real estate manager selection, and he is a member of the investment sub-group of the Action for Children charity.

Peter is a Fellow of the Institute and Faculty of Actuaries.

Anthony Yadgaroff, Chairman of AllenbridgeEpic, said:
‘We are delighted that Peter has joined us as a Senior Adviser. The two LGPS clients that he brings with him further enhance the number of LGPS clients that AllenbridgeEpic advises. Furthermore, Peter’s experience as a former fund manager, his private equity expertise, and his investment consultancy experience with charities will make him an extremely valuable member of the team.’

Peter Davies said:
‘I am very pleased to be joining AllenbridgeEpic, a firm which has justifiably gained respect for its expertise and professionalism in the investment advisory field. I hope to be able to assist AllenbridgeEpic in its future development.”


Steve Tyson Joins AllenbridgeEpic

AllenbridgeEpic Investment Advisers (AllenbridgeEpic), a leading investment adviser to UK pension funds, is pleased to announce that Steve Tyson has joined its team as a Senior Adviser.

Steve has over 30 years’ investment experience and holds a portfolio of advisory, Non-Executive Director and trustee positions. His last full-time role was as Chief Investment Officer and CEO of Manulife Asset Management from 2004-2012, responsible for ‘4 billion of assets under management and advice in a variety of asset allocation and equity strategies.

Previously, he held the position of Head of Global Equities at AXA Investment Managers, Head of US Equities at AXA IM and Sun Life Investment Management. He started his career as an analyst and portfolio manager at Tyndall Investment Services.

Steve has chaired the Trustees of the Manufacturers Life UK Pension Plan since 2004. He is also Non-Executive Director of Manulife Asset Management and a Public Member of Network Rail.

Steve is a Chartered Fellow of the Chartered Institute for Securities and Investment.

Anthony Yadgaroff, Chairman of AllenbridgeEpic, said:
‘We are delighted that Steve has joined us as a Senior Adviser. During his career, Steve has managed a wide range of defined benefit and defined contribution pension funds and, for the last 10 years, has specialised in strategic and tactical asset allocation strategies. This puts him in an excellent position to provide independent investment advice to AllenbridgeEpic’s pension fund clients.’

Steve Tyson said:
‘I am thrilled to be joining this highly professional organisation at this point in their development. They represent the best standards of independent advice and have a strong and growing client base in the LGPS world. I look forward to bringing my asset allocation experience to the table in advising clients. I am also delighted to see AllenbridgeEpic in the news with their recent research into Fiduciary Management.’


Independent Review of Leading Fiduciary Managers Published

AllenbridgeEpic Investment Advisers (AllenbridgeEpic) a leading investment adviser to UK pension funds, is pleased to announce that it has published an independent review of the leading providers of fiduciary management. This major research project, undertaken by Senior Advisers John Arthur and Alex Noble, pulls together key findings on number and type of mandates, charging structures, differences in service provision and potential conflicts of interest. The report also highlights key areas for trustees to investigate when considering a move to fiduciary management and puts forward recommended questions for them to ask at interview.

Anthony Yadgaroff, Chairman of AllenbridgeEpic, said:
‘We felt that AllenbridgeEpic was ideally placed to undertake this research. We do not offer fiduciary management ourselves and our independent status meant that the fiduciary management providers were happy to participate openly in the research. Where fiduciary management is being considered, or has been implemented by a pension fund, we provide an independent, oversight advisory service, so we already had an understanding of the issues and concerns.’

John Arthur, Senior Adviser and project manager for the research said:
‘We interviewed eleven firms for this first report and this included consultants, fund managers and bespoke providers. We explored all aspects of their service via a written questionnaire and face-to-face meetings, and it is fair to say that the firms interviewed were transparent and co-operative when sharing information with us. Assuming there is sufficient interest in this first report from trustees and pensions managers, we hope to provide annual updates on this growing sector.’

The main conclusions from the research were:

  • Considering fiduciary management leads to a reappraisal of trustee objectives and journey plan
  • Various levels of delegation are available and these can change with time
  • Trustees are now looking towards beauty parades rather than automatically accepting their consultants’ offering
  • Conflicts of interest and overlapping of responsibilities between fiduciary managers/consultants/asset managers need to be understood and managed
  • Huge variety of offerings are available
  • True and full delegation is rare
  • This is still a comparatively small market in the UK
  • Capacity issues need to be resolved
  • The size of a pension fund affects how the service is delivered
  • Leverage in the liability matching portfolio and extent of hedging varies enormously  
  • There is a lack of clarity of fee structures, particularly with regard to performance measurement

Alex Noble, Senior Adviser and Business Development Director, explained:
‘The full research report is now on sale to pension funds at an introductory rate of ‘495 although this fee is reimbursed if the client subsequently appoints AllenbridgeEpic for independent advice. Our fiduciary management oversight service is valuable to trustees seeking a truly independent, expert opinion on the choices being presented to them. We help trustees ‘lift up the bonnet’ of the fiduciary management engine to identify what aspects of the service really need further investigation.’


Mark Willis Joins AllenbridgeEpic

AllenbridgeEpic Investment Advisers (AllenbridgeEpic), a leading investment adviser to UK pension funds, is pleased to announce that Mark Willis has joined its team as a Senior Adviser.

Mark has 25 years’ experience in the financial services industry. Most recently, as Head of Market Risk at Nationwide Building Society, his responsibilities included overseeing risks arising from the Nationwide Pension Fund, on which he is currently trustee director. Previously, Mark worked at SG Warburg Group plc, Tullett & Tokyo Financial Services Ltd and Peat Marwick Mitchell & Co.

Mark graduated in Philosophy, Politics and Economics from Keble College, Oxford, is qualified as a Chartered Accountant and Corporate Treasurer, and holds the PMI Award in Pension Trusteeship.

Anthony Yadgaroff, Chairman of AllenbridgeEpic, said:
‘We are delighted that Mark has joined us as a Senior Adviser. His knowledge and practical experience of risk management and Liability Driven Investment will be particularly beneficial to our corporate clients for whom deficit management is a priority concern. He will be a valuable addition to our growing team of investment advisers.’

Mark Willis said:
‘My experience in asset and liability management and in governance is relevant to the investment and risk considerations that confront pension scheme stakeholders. I am delighted to join AllenbridgeEpic and look forward to opportunities to contribute this experience to the company and its clients.’


John Harrison joins AllenbridgeEpic

AllenbridgeEpic Investment Advisers (AllenbridgeEpic), a leading investment adviser to UK pension funds, is pleased to announce that John Harrison has joined its team as a Senior Adviser.

John has over 30 years’ experience in UK institutional investment and is currently independent investment adviser to four local authority pension funds with combined assets in excess of ‘8 billion. He spent most of his career with what was originally Phillips & Drew and is now UBS Global Asset Management. John started as a UK equity portfolio manager and analyst within the firm’s Charities division. After leaving for a few years to run charity investment teams at Lazard and then Flemings, he returned to Phillips & Drew in 1994 as a UK Equity Portfolio Manager for UK pension funds.

In 2000 the firm created a single investment platform as UBS Global Asset Management. In 2005 John was made UK Chief Investment Officer. He combined this role initially with being Head of the UK Multi-Asset Team and subsequently with being Head of UK Institutional Business and then Head of UK Institutional Advisory Solutions.

On retiring from UBS in March 2010, John was appointed Independent Investment Adviser to the Devon County Council Pension Fund, a role he retains today. He subsequently spent two years as a Partner in the Investment Consulting division at Aon Hewitt advising large public and private sector pension funds on all aspects of their investment arrangements. John left Aon Hewitt in January 2013 to take on a wider range of independent adviser roles.

Anthony Yadgaroff, Chairman of AllenbridgeEpic, said:
‘We are delighted that John has joined us as a Senior Adviser. His extensive knowledge of UK pension funds, his experience as an investment manager and his current portfolio of independent advisory relationships mean that he is an excellent match for us. He is well respected in the industry and adds to the existing rostrum of high calibre, experienced AllenbridgeEpic Senior Advisers.’

John Harrison said:
‘As an independent adviser it is important for my clients that I keep up to date with the rapid evolution of financial markets while retaining an objective perspective on new investment opportunities. Joining AllenbridgeEpic will enable me to do this more effectively. The firm’s Senior Advisers have a range and depth of experience that I believe is unparalleled in the industry and I am very much looking forward to working alongside them.’


Patricia O’Loughlin Joins AllenbridgeEpic

AllenbridgeEpic Investment Advisers (AllenbridgeEpic), a leading investment adviser to UK pension funds, is pleased to announce that Patricia O’Loughlin has joined its team as a Senior Adviser. 

Patricia has 30 years’ experience in asset management, working with corporate and local authority pension schemes. She spent eight years at Aviva Investors where she was a Client Director of UK Pensions. She also served as an independent investment adviser to Derbyshire County Council during this time. 

Prior to working at Aviva Investors, Patricia worked for several other investment management houses including Invesco Asset Management, Newton Investment Management, and Scimitar Investment Management. She has particular expertise in fixed income assets, and was Head of Fixed Interest whilst working at Newton and Scimitar. 

Patricia has an MSc in Economics and has lectured at University of London and City University. 

Anthony Yadgaroff, Chairman of AllenbridgeEpic, said:
‘We are delighted that Patricia has joined us as a Senior Adviser. She brings valuable expertise in fixed income assets and, having already worked as an independent investment adviser to a local authority pension fund, she is ideally suited to provide advisory services to our corporate and local authority pension fund clients.’

Patricia O’Loughlin said:
‘The growth in AllenbridgeEpic’s assets under advisement over the past 18 months has been very impressive. I believe this is a great time for me to join the company as the clear potential for further growth in fixed income, in both the corporate and public sectors, fits naturally with my specialist experience and capabilities.’


John Jones Joins AllenbridgeEpic

AllenbridgeEpic Investment Advisers (AllenbridgeEpic), a subsidiary of Allenbridge Investment Solutions LLP and a leading investment adviser to UK pension funds, is pleased to announce that John Jones has joined its team as a Senior Adviser.
 
John has worked in senior management posts in local government finance in London for over 30 years and has held the post of Director of Finance at two London Boroughs ‘ Ealing and Islington. In recent years he has been working independently, carrying out several senior level interim management appointments covering a wide range of financial management issues including advising elected Councillors on budget and investment strategy, and managing the finance function.
 
John has over 15 years’ experience of managing and advising Local Authority Pension Funds, including reviewing and developing investment strategies. He is a regular contributor at conferences with regard to pension fund investment issues and has led teams that have won awards for investment performance.
 
Karen Shackleton, Managing Director of AllenbridgeEpic, said:
 
“We are delighted that John has joined us as a Senior Adviser. He brings extensive experience of local government pension schemes where we already have a strong presence. In particular, John will be working with Peter Scales and Philip Hebson, our LGPS specialists, on building our governance advisory capacity.”
 
John Jones said:
 
“I am very pleased to be joining AllenbridgeEpic and am looking forward, in particular, to working with their highly experienced LGPS investment advisory and governance team. This is an excellent opportunity in these challenging but interesting times for pension funds and I am looking forward to working with funds to help improve decision-making and investment performance.”
 

AllenbridgeEpic Appointed by Worcestershire County Council

AllenbridgeEpic Investment Advisers (AllenbridgeEpic), a subsidiary of Allenbridge Investment Solutions LLP and a leading investment adviser to UK pension funds, is pleased to announce that Worcestershire County Council has appointed it as Financial Adviser to its Pension Fund (the Fund).
 
Philip Hebson, a Senior Adviser with AllenbridgeEpic and a member of AllenbridgeEpic’s Investment Panel, will act as the individual advising the Fund.
 
In that capacity Philip will be providing advice on investment matters specific to the LGPS including investment managers, asset classes and the broader investment industry.
 
Karen Shackleton, Managing Director of AllenbridgeEpic, said:
 
“We are delighted that Worcestershire County Council Pension Fund has appointed us as their adviser. We look forward to working closely with the Fund to help it meet its investment challenges. AllenbridgeEpic’s Investment Panel structure provides a collegiate forum enabling investment advisers to keep fully up to speed with developments in the markets and the investment world overall.”
 
Martin Finch at Worcestershire County Council said: 
 
“We are looking forward to working with Philip and benefiting from his contribution as we seek to achieve the Fund’s objectives.”

Malcolm Green Joins AllenbridgeEpic

AllenbridgeEpic Investment Advisers (AllenbridgeEpic), a subsidiary of Allenbridge Investment Solutions LLP and a leading investment adviser to UK pension funds, is pleased to announce that Malcolm Green has joined its team as a Senior Adviser.

Malcolm is currently a Non-Executive Director and member of the Audit Committee of the Shared Services Board of the Department of Work and Pensions. Until 2011 he was Chairman of the Royal Ordnance Pension Scheme (ROPS) and Royal Ordnance Senior Staff Pensions, having served as a trustee since 1999. ROPS has 18,000 members with circa ‘1bn of assets under management and, as Chairman, Malcolm had a significant input to the Scheme Investment Plan, the tri-annual valuations and the move towards Liability Driven Investments (LDI) in 2010/2011.

Malcolm spent over 25 years working for BAE Systems plc, most recently as Managing Director of Shared Services  (responsible for 1,500 employees and a multi-million pound spend covering areas such as finance and HR back office, procurement, technology, real estate and IT services). Prior to this he was the Managing Director of BAE’s Real Estate business for 15 years, involved in both development and investment projects.

Karen Shackleton, Managing Director of AllenbridgeEpic, said:

‘We are delighted that Malcolm has joined us as a Senior Adviser. He brings extensive experience of large private sector pension schemes where we are actively building our presence. Malcolm will be one our leading advisers providing investment, governance and general independent trustee advice to defined benefit and defined contribution corporate pension funds. His experience as Chairman of the Royal Ordnance pension schemes means that he has an excellent understanding of the issues facing our private sector clients.’

Malcolm Green said:

‘I am very pleased to be joining AllenbridgeEpic and am looking forward to working with their highly experienced private sector team. As an independent adviser and trustee I believe that I will get great benefit from the depth of knowledge provided by the AllenbridgeEpic team; in particular their investment analytical and research services, training, and governance capabilities and processes.’