Kapitalwerk expands in Germany
New German 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 few 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.
Leschly said Pension Builder is inspired by a dynamic life-cycle model that he co-developed at Willis which has been applied to the Nordic corporate pension market. “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 have 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.
Jorgen Svendsen, who shared Leschly’s responsibilities at Willis, now takes on the full role.
l Watson Wyatt appointed Jens Witt of Aon’s German consulting subsidiary to the new position of managing consultant for its Munich office as it expands in Germany. Witt joined from Aon Jauch & Huebner. As managing consultant, his role will be to help to develop an integrated service offering and building market share, says Watson.