Smart Pension has announced it has appointed ex-Aegon/BlackRock defined contribution managing director Paul Bucksey as director of UK distribution.
Bucksey led the £36bn UK workplace pensions business and played a key role in the Part VII transfer of global asset management and reinsurance firm Aegon’s acquisition of BlackRock’s UK DC platform; before that he helped Fidelity establish a strong foothold in the UK workplace pension market.
Bucksey said: “Smart Pension has demonstrated that it is a genuine disruptor that can dive into both existing and emerging markets.
“The way employers approach workplace pensions today has necessarily evolved over the years, and in this market firms are frequently looking to outsource and be left with a high quality, frictionless solution that syncs seamlessly with payroll systems and cycles and is easy to administer.
“Smart saw that coming and was able to start with a clean sheet of paper. What I also like about Smart is that it has the ability to evolve in line with the requirements of larger employers looking for innovative, technology-lead DC solutions.”
Andrew Evans, Smart Pension co-founder and CEO, said: “Paul has extensive expertise in the UK’s pension industry spanning two decades and at a very senior level. His deep understanding and impressive market influence will be key as we evolve into a leading player in the wider DC marketplace.
“His appointment strengthens our management team and underlines our ambitions to broaden our offering to larger employers as we accelerate dialogues with consultants, advisers and trustees about our technology.”
In January, Smart announced J.P. Morgan had taken a minority stake as part of a strategic placement funding round.
Smart Pension is a global savings and investments technology platform provider. Co-founded in 2014 by Andrew Evans, CEO, and Will Wynne, MD, it is one of the UK's largest providers of workplace pensions. Its award-winning master trust is overseen by independent professional trustees. In 2016, Europe’s second largest asset manager Legal & General Investment Management (LGIM) took a minority stake in the digital pension platform, part of a move by LGIM to invest in high-achieving, innovative technology that has a positive impact on the wider economy. In January 2019 J.P. Morgan invested as part of a strategic investment round and in November 2019, Link Group, the leading administrator in the Australian superannuation industry, invested as part of strategic partnership.
In 2019 Smart Pension was named DC Master Trust of the Year, DC Innovation of the Year and Retirement Innovation of the Year in the UK Pensions Awards. It was also named European Pension Fund of the Year 2019 in the European Pension Awards.
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