Tag Archives: Andrew Vaughan

MBW International announces new partner to further enhance global services

In response to client demand, MBW International, the leading independent alternative to the big three consulting firms for global pensions and employee benefits advice, has announced the addition of a third partner, Lurse. The organisation will become MBWL International with immediate effect.

The venture was established to offer global consulting advice for pensions and employee benefits to clients who operate internationally. Lurse focuses on compensation and pensions as well as talent and has sound expertise in designing human resources (HR) systems and processes. As a leading HR strategy consultancy, Lurse will further expand the expertise of MBWL International to provide independent pensions and employee benefits advice to a growing list of clients.

Andrew Vaughan, Partner at Barnett Waddingham, said: ‘MBWL International, with more than a century of combined experience from its three partner organisations, now offers a genuinely credible alternative to corporates looking for independent advice on their global pensions and employee benefits arrangements. Historically, they have effectively only had the choice of three global consultants—but MBWL is a true alternative that warrants serious consideration.’

Joel Wehner, Principal and Consulting Actuary at Milliman, said: ‘With the addition of Lurse we can provide clients with expert advice of the sophistication demanded by multinational organisations on their German pension and benefit issues, through a single co-ordinated team—and that opens the door to be able to help a wider pool of clients with their global challenges.’

Marc Oliver Heine, Partner at Lurse, said: ‘We are excited to be a part of MBWL International—an organisation that really is one of the most credible international providers of pensions and employee benefits advice with expertise right across the globe. We look forward to seeing the business continue to develop and enhance the options for helping our existing clients and prospects.’

How are defined benefit plans in the UK affecting southern European companies?

Private sector defined benefit (DB) pension plans are uncommon in Spain and Italy. However, DB plans remain an important issue for companies in the United Kingdom. They can have a significant effect on the financial performance of multinational companies.

MBW International, Milliman’s joint venture with Barnett Waddingham, recently analysed 20 multinational companies in Spain and Italy with around £51.7 billion of UK DB pension liabilities between them. The analysis by Isabel Coles and Andrew Vaughan considers the effect UK DB pensions are having on the companies that make up the Spanish IBEX 35 and Italian FTSE MIB indices. The authors look at how funding levels have changed and consider developments in three important areas: assets and investment risk, benefit payments and cash contributions. They also discuss how these companies are addressing the challenges posed by their pension obligations.

To download the report, click here.