UK - The £900m (€1.2bn) Northern Electric Group Pension Scheme has appointed Watson Wyatt as its new investment advisor, after Mercer Investment Consulting came under review.
Mercer had been advising the fund for a number of years. It declined to comment.
John Bird of CE Electrics, the fund's parent company, said: "There has been a review and the trustees made the change."
Watson Wyatt started advising the pension fund earlier this month, the consultant said.
Paul Trickett, European head of investment consulting at the firm, said: "This appointment is very good news for us and we are delighted to be in a position to provide best-in-class, independent advices to Northern Electric's pension scheme trustees."