U.K. pension consultant Redington will be acquired by U.S. insurance broker Arthur J. Gallagher & Co. for an undisclosed sum, according to a news release.
Redington provides investment, research and technology services to pension funds, wealth managers and institutional investor clients, primarily in the U.K. The CEO Sylvia Pozezanac and her team will remain in their current London location while reporting to David Piltz, head of Gallagher’s U.K. employee benefits and HR consulting operations.
Arthur J. Gallagher is an insurance brokerage, risk management and consulting services firm, headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.
“Redington brings exceptional talent and represents a fantastic cultural fit. Their deep capabilities in modeling and investment market research will enhance our existing consulting services and help our clients achieve superior financial security outcomes,” said J. Patrick Gallagher Jr., chairman and CEO of the firm, in the news release.
U.K. institutional clients of Redington include the £13.4 billion ($17.5 billion) local government investment pool London CIV, and the £700 million Cambridge University Assistants' Contributory Pension Scheme, England.
