The £2.6 billion ($4 billion) Lafarge UK Pension, Dorking, England, appointed Towers Watson as fiduciary manager, according to John Lovell, chief operating officer and vice president of group benefits at Lafarge.
This is a new hire.
An asset allocation review “has been discussed with Towers Watson as part of the implementation phase of their appointment,” Mr. Lovell said in an e-mail response to questions. The fund is broadly split with about 60% invested in return-seeking strategies and 40% in a liability-driven investing portfolio.
KPMG advised on the appointment, and will monitor Towers Watson as fiduciary manager.
