The Lockheed Martin UK Pension Plan has awarded Aon Hewitt a fiduciary management mandate.

Aon Hewitt is to provide full fiduciary management services to the defence company’s £230m (€331m) in defined benefit assets.

Lockheed trustees chair Chris Warren said Aon Hewitt offered a “complete solution” that directly addressed the pension fund’s needs while improving governance.

“Getting better control and management of the scheme’s key risks through greater diversification and use of liability-driven investment was one of the main reasons we chose Aon Hewitt,” he added.

Tim Currell, partner at Aon Hewitt said his company had been working closely with the Lockheed Martin UK Pension Plan for the past 18 months.

Sion Cole, partner and head of Client Solutions in Aon Hewitt’s fiduciary business said the deal reaffirmed his company’s position as “one of the leading providers of fiduciary management services”.