BDO LLP has announced the appointment of Kelvin Wilson as Head of Pensions De-Risking and Shyamal Bala as Senior Manager to their Pensions Advisory team. Joining from Grant Thornton, both Kelvin and Shyamal will focus on advising Employers and Trustees of defined benefit pension plans to design a risk management framework for tackling pension plan deficits, risks and reducing operational costs.
Richard Farr, BDO Partner and Head of the Pensions Advisory team, commented: “The Pensions Regulator’s recent guidance on Employer growth and integrated DB funding highlights the need for the company and pension scheme to work together to manage risk in a sustainable way. We have long believed that health of the Employer is central to the health of the scheme and the two parties need to work collaboratively to agree a mutually beneficial solution.
“In response, we have assembled our team of Pensions Advisory experts from diverse, multi-disciplinary backgrounds, who understand pensions from many viewpoints. Kelvin and Shyamal will be a dynamic addition to BDO’s 16-strong Pensions Advisory team.”
Kelvin has a pensions, actuarial and investment management background having previously worked at Aon Hewitt, Prudential UK and GE Asset Management. During his career, Kelvin has structured and transferred over £6bn of pension liabilities into the insurance and capital markets.
Kelvin Wilson, new Head of Pensions De-Risking, BDO LLP, said: “Shyamal and I are both enthusiastic about BDO’s holistic and integrated approach to advising Employers and Trustees on pension management issues, which is predicated on reconciling the Asset Liability Management (ALM) risks of the pension plan with the business growth strategy of the Employer.”
Shyamal is a qualified actuary, advising clients on implementing defined benefit pension scheme risk management strategies and de-risking solutions. He has over ten years pensions consulting experience, including at Towers Watson and Mercer providing actuarial and investment advice to both corporate sponsors and Trustees of defined benefit schemes.
He has previously worked on a wide range of projects including scheme funding valuations and scheme funding negotiations, scheme design changes, risk analysis, asset allocation reviews, buy-ins and buy-outs, accounting for schemes under UK, US and international accounting standards, M&A transactions involving defined benefit pension schemes and public sector contract bids involving defined benefit pension scheme liabilities.
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