Hewitt’s Irish arm hires NTMA’s Reidy
IRELAND – Hewitt Associates’ Irish arm has hired Deborah Reidy from the National Treasury Management Agency to head its investment practice, a new role.
Reidy, head of investment manager selection at the NTMA, will be an executive director at Hewitt & Becketts. The company was formed last year when Hewitt Bacon & Woodrow bought benefits consultant Becketts.
An official at the NTMA, which oversees the eight billion-euro National Pensions Reserve Fund, said a replacement has not yet been decided.
“We believe that considerable scope exists in the Irish market, which is considerably less mature than, for instance, the UK market in this sector,” said Hewitt & Becketts’ managing director Kieran Barry.
“Without prejudicing our ability to give independent advice to our clients, which remains our paramount objective, we have identified significant opportunities to develop new and additional consultancy services.”
Hewitt said the hire confirms its commitment to development of its investment consultancy business. Reidy will head the existing team of investment consultants and she will take a role in investment manager monitoring and selection.