Martin Collins joined KPMG as a director, advising banks and trustees on managing pension fund liabilities in the banking sector, a spokeswoman said.
The position is new. Mr. Collins works with KPMG’s banking and pensions teams, adding to existing capabilities in delivering pension fund strategies for banks that bring together sponsoring employer covenants, or the employer’s obligation and ability to support its pension fund; investment and funding advice, said a KPMG news release.
“Regulatory change has made pension liabilities a key part of a bank’s capital requirement,” Mr. Collins said in the news release. Mr. Collins was previously at Lloyds Banking Group where he managed funding, risk and investment strategy for pension funds, and reviewed pension fund governance. “In my time at Lloyds, we demonstrated that bank pension schemes can adapt their strategies to achieve capital efficiency for the employer within the pensions regulatory framework. In my new role at KPMG, I’ll be helping more banks align their pension strategy to their wider group objectives.”
Andrew Coles, partner and head of pensions at KPMG, said in the same release: “(Mr. Collins’) addition to the team helps us further bind our pensions, investment and covenant (specialties) with our expertise in the banking sector to provide a truly integrated offering.”
Spokesmen for Lloyds Banking Group were not available to comment by press time.