UK – German industrial group Linde – in the news over the treatment of pension liabilities by ratings agencies - has appointed Mercer Human Resource Consulting in the UK.
Mercer said in a statement that it would provide actuarial and investment consulting services to two UK subsidiaries and the trustees of four pension schemes of Linde Material Handling.
Mercer added that it won the business in competition with Aon, Entegria, Lane Clarke & Peacock and Punter Southall and that Watson Wyatt was the previous incumbent.
Linde’s combined UK assets are approximately 150 million pounds and the membership is more than 1,000.
Earlier this month Linde, along with ThyssenKrupp and Deutsche Post, was behind an academic report which was critical of ratings agency Standard & Poor’s treatment of pension liabilities – a report S&P said failed to understand or properly represent its methods.