Home > Alerts > United Kingdom > Aon advises Bank of America Merrill Lynch on £400m buy-in
16 April 2019
“Aon (NYSE:AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has advised the Trustees of the Bank of America Merrill Lynch UK Pension Plan (the Plan) on a £400 million pensioner buy-in with Scottish Widows.
The transaction covers all 915 pensioner members in the bank’s largest pension scheme and represents the next significant step on the Plan’s de-risking journey, enhancing the security of members’ benefits while giving rise to an improvement in the Plan’s long-term funding position. Bank of America Merrill Lynch had already carried out two previous buy-ins for its smaller pension schemes.
Aon advised the Plan throughout the transaction, using its market-leading Bulk Annuity Compass platform, which has facilitated the completion of over £10 billion of bulk annuity deals since it was introduced in 2016. Use of Aon’s Compass platform enabled the Plan to move quickly at a time when pricing was attractive. Linklaters LLP provided legal advice throughout the process.”
March 24, 2023
Investment Week | Morgan Stanley IM launches two European fixed income Article 8 funds
March 24, 2023
Investment Week | Artemis taps Columbia Threadneedle for global equities portfolio manager
The Exelerating platform helps you to gain relevant insights into € 6,000+ billion of European institutional assets. We do this by tracking and analysing thousands of public sources of data.Learn more