Traditional Scotland Northern Ireland Economic Relationship Reversed as Spence & Partners Becomes Biggest Actuary of its Kind in Scotland

In a reversal of the traditional economic relationship between Scotland and Northern Ireland, actuaries Spence & Partners has expanded from its Belfast origins to become the largest independent, privately-owned actuarial firm servicing the SME sector in Scotland within two years of opening an office in Glasgow. Established in 2000, Spence & Partners opened its Glasgow Office in 2004 and has grown both its turnover, to £2.5 million, and its staff ever since. The firm is presently positioning itself for a further surge in demand for its services with a range of senior appointments. Connie Johnstone has been appointed as a Director of Spence & Partner’s professional pension trustee, Dalriada Trustees, whilst Mike Selby has joined the actuarial team from London. Meanwhile, Laura Cumming is joining the firm as a consultant based in the Glasgow office. Further recruitment is well progressed with additional senior appointments expected over the coming months. David Davison, Director at Spence & Partners, said, ‘Whilst there are numerous actuarial firms competing against each other in England, in Scotland actuarial services are typically provided by UK national companies to major organisations. Our rapid expansion in Scotland is attributable partly to our spotting a gap in the market and focusing our efforts on the owner/managed SME sector – the very sector that seeks both the value for money and the close working relationship with a single senior adviser that we are particularly well placed to provide. ‘Pensions issues have been topping the political and economic agendas of late and this has led to a significant rise in demand for our services, particularly professional pension scheme trustee services. ‘We are able to satisfy that demand by offering a niche service unlike anything available elsewhere in the Scottish marketplace. Our specialists come from a financial background and, as many of the issues currently facing companies and trustees revolve around such financial issues as solvency, assets, liabilities and investments, we are perfectly placed to provide the support needed.’ Having firmly established itself in the Scottish marketplace, Spence & Partners now intends to build on the professional reputation and relationships it has already developed to consolidate its growth and expand its services throughout Scotland and the rest of the UK. For further information please contact David Davison on tel 0141 221 4934 Issued on behalf of Spence & Partners by Blueprint Media tel 0141 353 1515 Date 13 September 2006