P-Solve Completes Insurance Consultancy Purchase in UK
Investment consultant and asset manager P-Solve has completed its purchase of long-established insurance consultancy Meridian.
For immediate issue
Tuesday September 26, 2011
P-Solve Meridian
161 Worcester Road, Suite 503, Framingham, MA 01701
- Acquisition forms a new business in the group: P-Solve Meridian
- Strengthens liability-focused investment and data analytics capabilities for a wider range of clients
- P-Solve now with $33bn under advice and $9bn under management from more than 180 clients.
As part of an ongoing strategy to increase its presence in the UK insurance market, P-Solve’s move means it can offer its award-winning approach to investment research, risk management and governance to a wider range of clients in the insurance sector.
P-Solve Meridian will operate from offices in London and Boston.
P-Solve Vice Chief Executive Jack Berry said: “While pensions and insurance have quite specific investment needs, there are clearly synergies and similarities which, we believe, can benefit our clients.
“We already work with insurance clients in the US and Bermuda and this transaction means we can provide them with additional resources, technology and expertise.
Director Kate Miller will step up to take over the UK arm from David Osborne, who founded the business 26 years ago and is staying on to support the transition. Stewart Foley will continue to head the US practice.
Kate said: “This means we can build on our pro-active, trusted reputation to create more demand for our services in consultancy, performance measurement and insurance accountancy software.
“P-Solve’s significant experience in investment research, asset allocation and using derivatives to manage risk will help us do this, especially in the current, challenging market conditions.”
Meridian’s investment accounting software and universe reporting business, used by the insurance industry since 1984, will be strengthened by integrating with CAMRADATA Analytical Services, the institutional data, analytics and reporting business within the P-Solve group.
CAMRADATA Managing Director Steve Butler said: “Meridian’s data and reporting products gives us extra depth and resources to serve our clients in the institutional investment market”
Ends
Editor’s notes:
For more detail, call Patrick Horwood on +44 (0)207 004 0031 or email patrick.horwood@psolve.com
P-Solve Meridian – London
P-Solve Meridian
2nd Floor,
Marlow House,
Lloyd’s Avenue,
London,
EC3N 3AA
Tel: +44 (0)20 7283 0671
Email: meridian@psolve.com
Web: www.psolvemeridian.com
P-Solve Meridian – Boston
161 Worcester Road
Suite 503
Framingham
MA 01701
Tel: 508-620-7110 x28
Fax: 508-620-7122
Email: dandesmarais@psolve.com
About P-Solve
P-Solve provides investment advisory, financial risk management and fiduciary management expertise to institutional investors such as defined benefit pension plans and insurance companies. For further details, www.psolve.com
About CAMRADATA
CAMRADATA Analytical Services offers products and services to asset managers, pension consultants and pension plan trustees to help them achieve their aims through better understanding and insight of the investment world. For more, www.camradata.com