Nico Aspinall, head of U.K. defined contribution investment at Willis Towers Watson, will leave to launch his own firm, confirmed a spokesman for the consultant.
In a statement, WTW confirmed that Mr. Aspinall is departing and wished him well with his business.
Mr. Aspinall will hand over responsibilities in the coming months. WTW “will take that time to properly consider various options for the leadership and organization of this part of our business,” said the statement.
A source said Mr. Aspinall will start his own consulting firm, working with providers of DC strategies and products rather than with pension plans.
Mr. Aspinall has led Towers Watson’s U.K. DC investment business since February 2012. He joined from the Barclays Bank U.K. Retirement Fund, London, where he was an associate director for DC and communications.