An independent pension trustee has been acquired by a pension services group. Birmingham-based Clarity Trustees has been bought by London-based Independent Governance Group (IGG) in an undisclosed deal.
Clarity Trustees' founder Karein Davie has now joined IGG and brings more than 20 years of pension sector experience from spells with firms such as PwC, Hymans Robertson and Mercer.
She is a fully accredited professional trustee and her areas of expertise range from designing and implementing de-risking for schemes and setting long-term funding objectives.
Ms Davie will continue to lead work for all her existing clients including from family businesses to private-equity backed multi-nationals.
The move comes just a few weeks after IGG's formation via the merger of Ross Trustees and Independent Trustee Services.
IGG's chief executive Andrew Bradshaw said: "I am delighted to welcome Karein and her clients to IGG at this exciting time for the business.
"Our team will benefit enormously from her wealth of experience and hands-on approach to professional trusteeship while her arrival marks an important strategic milestone as we continue to expand our regional presence.
"The economic environment presents new opportunities and challenging headwinds for pension schemes which makes it even more important that clients benefit from the very best talent and expert support."
Ms Davie added: "I am incredibly proud of the success Clarity Trustees has achieved and I am delighted my clients will benefit from the greater resource and the diverse range of skills within the Independent Governance Group.
"My varied career background means I understand the challenges facing those involved in managing pension schemes from all angles. It was essential for me to find the right business partner for Clarity Trustees."
LDC, the private equity arm of Lloyds Banking Group, first invested in Ross Trustees in 2020 and provided additional funding to support this latest transaction, acting as the private equity partner of the combined group.
It is the third acquisition by IGG since LDC first invested in the company.
