Stanplan A DC master trust and the Standard Life DC Master Trust, both in Edinburgh, hired Barnett Waddingham to provide investment consulting to the trustees, said Richard Butcher, managing director at PTL, the independent trustee for the plans.
Stanplan A has £2 billion ($3 billion) in assets and the Standard Life DC Master Trust, £800 million. Both plans are multiple employer plans.
Mr. Butcher said in a telephone interview investment consulting was previously provided by an affiliate of Standard Life. The plans, he said, are coming up for an investment review, and the trustees want a “more robust” approach with an independent provider.
The appointment followed a search in 2014, Mr. Butcher said.