Smart has today announced that Paul Toon has joined the company as the new Group Director of M&A, in a newly created role. Paul will be responsible for overseeing and executing all aspects of acquisition both in the UK and further afield.
Smart has an increasing appetite for inorganic acceleration to further complement its stellar organic growth to date, and views this as a key hire in achieving that objective.
Paul joins Smart, the platform technology business that powers the Smart Pension Master Trust, among other schemes in the UK and overseas, from Legal & General Investment Management where he led Corporate Development and oversaw a number of acquisitions and disposals during his tenure.
Michelle Darracott, Group Strategy Director at Smart, said:
“This is a really exciting time to welcome Paul to Smart as we close our £165 million Series D funding round. Paul's wealth of experience in M&A will see him play an instrumental role in Smart's growth; we're thrilled to have him on board.”
Paul Toon, Group Director of M&A at Smart, said:
“I’m delighted to join such a dynamic organisation as Smart, leading the disruption of an industry to improve outcomes across the world. With the global retirement market valued at more than $55 trillion, the opportunities are clear. I am convinced that the trajectory of the firm, combined with its international expansion, will drive a great acquisition pipeline for us as we look to achieve our global growth goals.”
Since 2018, Smart has acquired seven master trusts including Corpad Master Trust and Corporate Pensions Trust (CPT), sponsored by national financial advisory group Lighthouse, this consolidation has seen the assets on the Smart platform grow from £100 million to more than £2 billion in just 2 years.