UK - Aon Consulting says it has ousted Watson Wyatt Worldwide as investment consultant for the Independent Television News Ltd (ITN) Pension Scheme.
It follows Aon’s replacement of Watson at Metso Minerals last month. Aon said it had competed with two “major consultancies” but it was not clear whether Watson Wyatt had defended the mandate.
Chris Erwin, principal at Aon Consulting, Michelle Stephens and a team from the firm's London office will take over.
“Their work will involve providing ongoing investment advice to the ITN Pension Scheme, as well as any investment projects which may occur,” Aon stated. ITN provides news bulletins for UK television channels.
Erwin said: “We were particularly pleased the trustees liked the mixture of knowledge we offer about views on the real way the stock market behaves being allied to liability based solutions.
"We're delighted to have secured the role of investment adviser to this prestigious scheme.”
A spokesman for Watson Wyatt declined to comment, saying the firm did not discuss clients.
ITN’s pension fund was not available for comment.