UK - New pension buyout firm Synesis Life has boosted its staff with hires from Watson Wyatt and Legal & General.

It said Robin Houghton has joined from Watson Wyatt's life insurance arm where he worked as senior consultant focussing on mergers and acquisitions.

Joseph Lu, also a senior actuary, moves from L&G where he specialised in the analysis of mortality risk.

"I am delighted to welcome Robin and Joseph to Synesis Life," said chief executive Isabel Hudson.

"These appointments build on the depth of expertise within the company and will enhance our ability to offer bespoke solutions. I am confident that Robin and Joseph's experience will make a significant contribution to Synesis as we move forward with the business."

Elsewhere, ABN Amro Asset Management has launched so-called capital protected lifecycle funds to the UK institutional market as a default option for defined contribution pension schemes

It's a range of six guaranteed lifecycle funds, each with a specific target date between 2010 and 2035. They are designed to provide investors with a risk-averse route to meet future retirement benefits.