Jaguar Pension Plan, Solihull, England, hired Towers Watson as delegated consultant, giving the firm more discretion over investments from its previous role as investment consultant, confirmed Paul Deane-Williams, Towers Watson spokesman.
Towers Watson, the £2 billion ($3.2 billion) pension fund's consultant since 2008, was promoted to the new role; a search was not conducted.
Towers Watson already serves as delegated consultant to Jaguar's sister fund, the Land Rover Pension Plan. The automaker's two pension plans had combined assets of £4.5 billion as of Dec. 31, according to company information.
Mr. Deane-Williams declined to provide additional details; Julie Hooker, head of pensions at Jaguar Land Rover, could not be reached.
