Xafinity is acquiring PricewaterhouseCoopers LLP (PwC) trustee pension scheme actuary, trustee investment consulting and scheme administration client business.
Xafinity Consulting will provide clients with a full range of pensions consulting, actuarial and administration services.
PwC has taken the strategic decision to cease operating in the market of providing trustee scheme actuary and scheme administration services. The acquisition will complete on 13 August 2010.
Michael Rendell, partner and global head of HR services, PwC, said: “We are withdrawing from the market of providing trustees with scheme actuary and scheme administration services to focus solely on the areas of our business where we feel we can add the most value to corporate sponsors and trustees in the UK.”
Robert Birmingham, managing director, Xafinity Consulting, commented: “This is an exciting acquisition for Xafinity Consulting. It increases our client base, adds significantly to the number of pension professionals in our firm and expands our footprint within the UK.”
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