The trustees of the Gulf International Bank (UK) Limited Pension Scheme have appointed Isio to provide risk settlement services as the trustees and the bank work towards securing the scheme with an insurer.

Isio was selected following a competitive selection process, and was chosen for its experience and approach to the risk transfer market, allowing schemes to secure bulk annuity transactions with greater certainty and at attractive prices.

The team advising the trustees of the pension scheme will be led by Isio director, Karen Gainsford, and will aim to determine and deliver the scheme’s risk settlement strategy.

Commenting on the appointment, Independent Governance Group independent trustee and chair of the trustees, Roger Mattingly, said: “We are confident that Isio's capabilities will add value and strengthen our ability to meet the evolving needs of the bank and the scheme members.

“Isio's proven track record in advising pension schemes, coupled with their innovative approach, will enable us to more effectively manage risks as we enter the next chapter in the scheme’s journey.”

Gainsford also said that Isio was “really excited” to have been appointed by the trustees and was “looking forward” to extending its expertise to the Gulf International Bank (UK) Limited Pension Scheme.

“Our innovative approach will enable us to deliver a tailored strategy for the trustees so we can optimise outcomes for the scheme and its members,” Gainsford added.

This article was originally published on our sister title, Pensions Age.

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