Fund members have expressed concern over Aon’s appointment as trustee after it was revealed that the company already acts as brokers for KPMG’s professional indemnity insurance. They feel that this relationship may affect the trustee’s independence when making key decisions about the fund.
KPMG hired Aon Trust Corporation after it dismissed Capita Trustee Services in January. Previously, Capita had asked KPMG to fill a £60m gap in the employee pension fund and was rebuffed.
Staff fear Aon’s connections with KPMG may make them more sympathetic to the firm’s position on key matters to do with the fund.
One fund member said: ‘It stinks. I doubt whether the trustees can truly act in the interests of fund members if it has other business with KPMG.’
A spokeswoman for KPMG said: ‘There is no conflict of interest here. We buy two completely different types of professional services from Aon and the arms that deal with these services are very separate. Also Aon only brokers our insurance rather than actually providing the insurance itself.’
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'
Stephen Mills joins the Manchester office from IBM, where he spent 12 years as an associate partner in the data, analytics and cognitive consulting group
Rupert Guppy will be responsible for capital allowances in the southern region, and joins the firm from specialist consultancy E3 Consulting
Richard Lewis has been appointed to the firm's restructuring and recovery services team