Aon ousts Watson Wyatt at Metso in the UK
UK - Aon Consulting says it has been appointed by the UK division of Finland’s Metso Minerals as its full pension services provider, ousting incumbent Watson Wyatt.
The consultant will take over from Watson Wyatt on December 1 and will be in charge actuarial consultancy, administration, legal, investments and risk for the 20 million-pound (28.7 million-euro) defined benefit scheme.
Aon had previously acted as pension administration services provider to Nordberg, a company acquired by Metso, which supplies quarry, construction and engineering equipment.
Following the acquisition of Nordberg the pensions schemes were merged and Watson Wyatt took over all pension services.
“During the two-year period Aon Consulting built up a strong relationship with the new trustees and new management and also continued to provide actuarial services to the company including the administration of the Group Life Scheme,” the consultant said in a statement.
Deanna Karstens, financial controller and chairman of the trustees at Metso Minerals, said: "We selected Aon Consulting as they demonstrated a common sense approach and an ability to meet our business needs. We were impressed by the teams enthusiasm and the relationship that has developed."
Julie Taylor, client relationship manager at Aon Consulting added she was "delighted”.
“We have built a strong relationship with the new trustees and new management and we look forward to continuing this relationship further," she added. Watson Wyatt declined to comment.