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Germany's Kapitalwerk hires Willis’ Leschly

GERMANY – New advisory firm Kapitalwerk has hired Willis Actuarial & Consulting Services partner and executive director Jorgen Leschly.

The move comes as Kapitalwerk says it will launch a pension model aimed at boosting savings for retirement called Pension Builder within the next two months.

Leschly will be director, head of asset and liability product development and sales, a new role. He said the new model would be launched in view of the “huge demographic challenge” the country faces.

Kapitalwerk, managed by Matthias Wiegel and Andre Spee, was created this year with a merger between German Financial Advisors and parts of IdeenKapital and Fond Select.

Jorgen Svendsen, who shared Leschly’s responsibilities at Willis, assumes the whole role.

Leschly said Pension Builder is inspired to ‘Pension Planner’, a dynamic life-cycle model that he co-developed at Willis which has been applied to the Nordic corporate pension market.

Leschly said: “When you look at the German market, where pensions have been something that the state provided for, you see a huge demographic challenge.”

“I hope I found a way so that everyone wants to save money for their retirement. We want to convince a lot more people and we can do it in a way that is not been done in Germany,” he said.

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