Smart continues to grow team with Group Director of M&A hire

Paul Toon joins Smart as international M&A activity ramps up

By

Smart

12/6/2021

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.


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FOOTNOTES
CONTRIBUTORS

Smart continues to grow team with Group Director of M&A hire

Paul Toon joins Smart as international M&A activity ramps up

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.


About Smart

Smart is a global savings and investments technology platform provider. Co-founded in 2014 by Andrew Evans, Group CEO, and Will Wynne, Group MD, it is one of the UK's largest providers of workplace pensions. Its award-winning master trust, Smart Pension, is overseen by independent professional trustees.

In 2020 Smart Pension was named Master Trust Offering of the Year at the Pension Age Awards. Other awards include DC Master Trust of the Year, DC Innovation of the Year and Retirement Innovation of the Year in the 2019 UK Pensions Awards. Smart Pension was also named European Pension Fund of the Year 2019 in the European Pension Awards.

Legal & General Investment Management (LGIM), J.P. Morgan, Link Group, Natixis Investment Managers, Barclays, Chrysalis Investments and DWS Group are all investors in Smart.

We tweet as @SmartPensionUK.

For media enquiries

Contact the Smart press office on 020 8016 2553 or email [email protected]