mast image

Special Report

ESG: The metrics jigsaw

Sections

Chemicals firm Ciba taps Watson (Update)

UK – Watson Wyatt says it has been appointed by chemicals firm Ciba Specialty Chemicals to manage its UK pensions administration and accounting, replacing KPMG (Updates with fresh quotes).

Ciba chose Watson Wyatt in part because of its ability to offer a web-based solution, the consulting firm said.

"We found the KPMG administration team to be very committed and focused,” Jackie Broughton, Ciba’s pension fund manager, told IPE. “However, periodically, we review available service providers on the basis of cost and service capability.

“In addition to cost effectiveness, Watson Wyatt offered a proven IT capability that closely matched our needs. The company's focus on pensions administration also weighed in its favour.”

"We are delighted to have been appointed to work with Ciba,” said Watson Wyatt partner Clive Witherington. “The respective people involved in the evaluation process met on several occasions and developed a very good rapport and understanding of each others’ requirements.”

Watson said Ciba's £400m (€602m) defined benefit scheme has around 4,500 members. A KPMG spokeswoman was not immediately able to comment.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2575

    Asset class: Core Real Estate Muli-Manager Separate Managed Account.
    Asset region: Global.
    Size: CHF 150m.
    Closing date: 2019-12-20.

  • QN-2576

    Asset class: Small Caps Equity.
    Asset region: US.
    Size: $>100m.
    Closing date: 2019-12-09.

  • QN-2578

    Asset class: Sovereign Local Currency Emerging Market Debt.
    Asset region: Local emerging markets.
    Size: EUR 950m.
    Closing date: 2019-12-19.

Begin Your Search Here
<