PRS for Music, London, hired Aon Hewitt for actuarial, investment and administrative consulting services for its two pension plans, confirmed Barney Hooper, PRS for Music spokesman.
Mercer and Jardine Lloyd Thompson Group had provided the services for the plans that have a combined £140 million ($221 million) in assets. Mr. Hooper said PRS wanted to consolidate the services under one firm. He wouldn't say if the incumbents rebid.
“We looked at a number of potential providers, and although there were many providers who could meet our needs in some areas, only Aon Hewitt could meet all of our needs,” said Wayne Phelan, independent chairman of the pension plans, in an Aon news release.