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Huge 4 agency EY has appointed a brand new head of its UK life and pensions wing. Alistair Brannan takes on the position having spent eight years with the agency.
The UK’s life and pensions sector is present process vital transformation, at current, pushed by evolving buyer wants and expectations, developments in expertise, and ongoing regulatory reform. On the identical time, many corporations are shifting to de-risk their portfolios, with UK pensions consultants anticipating 2024 to be one other record-breaking 12 months for the pensions threat switch market – having hit an estimated £50 billion in offers in 2023.
Amid this, EY’s life and pensions group works with insurance coverage corporations, banks, pension funds, non-public fairness companies, sovereign funds and native regulators, to attempt to put together its shoppers for the approaching shifts of the sector.
Talking on his new position on the head of the group, Brannan commented, “I’m vastly excited to steer EY’s Life and Pensions group within the UK. The life insurance coverage and pensions sector performs a vital position supporting the longer-term monetary resilience of individuals throughout the nation. Whereas it’s an undoubtedly difficult time, there are alternatives to be discovered, and I’m thrilled to be main this group as we work with our shoppers to remodel the sector for the higher.”
Taking on the position from Martina Neary, who was just lately promoted as EY’s UK insurance coverage chief, Brannan brings 19 years of expertise to the job. Based mostly in Edinburgh, he joined EY in 2015 as a director in monetary providers threat consulting, earlier than changing into the life and pensions sector chief in Scotland in 2018, and have become a associate in 2021. Previous to becoming a member of EY, Alistair spent over ten years with the Royal Financial institution of Scotland Group.
Neary, mentioned of her successor, “I’m delighted to see Alistair tackle the place of head of life and pensions within the UK. The UK’s life insurance coverage and pensions sector is at a pivotal second of expertise transformation and coverage reform, and Alistair’s deep sector data and powerful shopper relationships will probably be invaluable as we help shoppers on this journey.”
Along with his new position, Brannan will be a part of EY’s UK insurance coverage management group. He stays shopper and markets chief for EY’s monetary providers enterprise in Scotland.
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