Mark Searle is not someone I know – but I’d like to! He appears on this VFM podcast and talks with good sense about what is likely to happen to the money we have invested in pensions.
He was at Aon and is now at XPS where he heads up the DC investment proposition. I have been critical of actuarial excess (see the previous episode) but Mark was concise and made sense to listeners who are not actuaries.
I had been in a meeting last thing on Friday of last week when I was asked my opinion of DC consultants as investment advisers. My response was that I did not think that smaller DC schemes would be in place for ever while those at scale would have in house facilities to make the independent consultant (such as Mark) irrelevant.
If I could eat my words, I would. I sent round colleagues a link to Mark’s podcast as an example of where an independent DC investment consultant can stay relevant. Dean Wetton is another.
It is interesting how diverse views are with regards to Rachel Reeves’ plans for large workplace pensions. I see Nest buying into IFM indicative of what will happen. Large DC providers (Lifestyle, Peoples and Nest) together with the insurers with DC legacy books and master trusts are where we will test the capacity of these pensions to do business with businesses.
I’m chairing my event on Tuesday which I hope Mark Searle and others can either come along or watch the video on this blog later in the week.
Coffee Morning – In conversation with Sir Nicholas Lyons and Amelia Henning
May 20, 2025 10:30 am
You are cordially invited to attend our next Playpen Session –
“In conversation with Nick and Amelia”.
In recent weeks there has been much news coverage and debate regarding the Mansion House Accord unlocking of DB/DC Fund assets to invest in the UK Private Market. Many people agree with this concept and some do not! …Which side do you take?
In this session Henry Tapper will be asking Sir Nicholas some key questions on this subject and there will be considerable scope for debate plus Q&A?
Sir Nicholas is Chairman of the Phoenix Group and was past Mayor of London in 2022 – 2023.
At half-time the mike will pass to Amelia Henning, she is CEO of GIG
It is looking to raise a significant amount to link Britain to Iceland and ensure energy passes around our country and beyond.
Iceland has an excess of energy coming from beneath the ground, with the help of Korean partners and firms that manage the European power net, “GIG” is capable of great things but it needs the help of long term capital. We as investors for our pensions should be excited by the opportunity.
I know Amelia a little and a little about the Global Interconnection Group. I know of no-one I would rather hear from who is looking for money from pension funds and am really pleased that she can speak after Nick has finished.
