The service, branded the Aon Pension Solution, is being marketed to trustees and employers as a way of managing assets and liabilities together and will launch in July.
The service is being billed as bringing together Aon’s skills in liability management and investment consulting, with Russell’s investment implementation expertise.
While other consultants have set up fiduciary models in-house by hiring in people with experience of managing funds, Aon claims that no firm can have all such skills in one place and that its partnership overcomes this problem.
Donald Duval, managing director of Aon Consulting’s pension consulting division, said: “Pension schemes need a solution that protects them in difficult times, but also a governance model that allows them to take advantage of structural opportunities as they arise.
“The Aon Pension Solution will meet both these aims, and our partnership with Russell ensures implementation will be of the highest quality.”
Shamindra Perera, managing director of institutional investment services at Russell Investments, said: “By integrating Aon’s deep understanding of their clients’ needs in terms of pension scheme assets, liabilities and finance objectives, with Russell’s expertise in implementing complex portfolios, Aon is able to deliver an extremely compelling solution.”
