We noted with disappointment (because however much we compete with other firms nobody likes to see people we have worked with losing their jobs) in our earlier post Pensions Administration Jobs To Be Lost In Glasgow that JLT Employee Benefits were intending to pull out of Scotland and indeed this went on to happen when they closed their Glasgow office in September.
JLT’s loss has been our gain with one person who had been made redundant joining our staff and unsurprisingly it would seem that some pension schemes are on the move too.
JLT’s exit from Scotland has been short lived now that they have acquired HSBC Actuaries and Consultants (HACL) who have offices in Glasgow and Edinburgh. We understand they will be trading under the name JLT Actuaries and Consultants eventually.
Ann McGinn rather pointedly observes in a comment on the Professional Pensions website “Kind Regards – I am sure that all the staff who have recently been made redundant both within the Glasgow office of JLT and beyond wish the company all the best with the acquisition!!! Congratulations!”
For the sake of the longstanding HACL team in Edinburgh with whom we have worked in the past we hope JLT will stay this time!
Spence & Partners is committed to continuing to provide actuarial advice locally to clients in all the major legal jurisdictions in the British Isles including Scotland and for that matter, Northern Ireland and Ireland (where neither JLT Employee Benefits nor HACL seem to have an actuarial presence).
Brian Spence is a founder of actuaries Spence & Partners Limited and a director of independent trustee Dalriada Trustees Limited. You can follow him at @briandspence or @PensionsEndgame on Twitter or link to him on LinkedIn. Dalriada provides professional trustee services and Spence & Partners can provide support to employers in appointing an independent trustee. Brian has written a series of articles on appointing an independent trustee.