Mitchells & Butlers, Birmingham, England, has appointed XPS Pensions Group as actuarial and investment adviser to the trustees of its two pension funds, a spokesman said. The plans for employees of the restaurant chain have a total £3 billion ($4.1 billion) in assets.
"We wanted to work with advisers that were completely joined up in the delivery of funding and investment advice and would partner us on our journey to buyout," Jonathan Duck, chairman of trustees, said in a news release. "XPS demonstrated a pragmatic approach using market-leading technology to help us achieve our strategic objectives and engage effectively with our members, their approach really stood out and we are delighted to be working with them," he added.
Additional details could not be learned.
