Punter Southall Group becomes largest shareholder in newly merged business

– Punter Southall Group is delighted to announce that the transaction to merge its actuarial, investment consulting and administration businesses with Xafinity plc is now complete

– Merger creates largest “pure play” pension consultancy in the UK market

The Punter Southall Group is delighted to announce that the transaction to merge its actuarial, investment consulting and administration businesses with Xafinity plc (Xafinity) was completed earlier this morning. The merger creates a new, specialist advisory firm with the scale and capabilities to offer a genuine pensions focused alternative to the global consultancies in the industry.

Under the transaction, Punter Southall Limited, Punter Southall Investment Consulting and Punter Southall Administration Limited have been acquired by Xafinity for a combination of cash and shares. As a result, the Punter Southall Group has become the largest single shareholder in Xafinity. The merger has created a business of significant scale, enabling clients of the complementary Xafinity and Punter Southall businesses to benefit from a wider range of services and expertise.

The Punter Southall Group continues to own, operate and invest in its range of specialist businesses across wealth management, workplace saving, and health and protection. As part of the transaction Xafinity’s independent trustee business, HR Trustees, has become part of the Punter Southall Group and has been merged with PS Independent Trustees which significantly expands the Group’s capabilities in this area.

Jonathan Punter, co-Founder and CEO of Punter Southall Group, commented:

“This is an exciting development for the clients and employees of our actuarial, administration and pension businesses. They will benefit from increased scale and expertise through the creation of the largest purely “pensions” consulting firm in the UK market.

“As the largest shareholder we will continue to have a strong connection to this business. At the same time, by combining HR Trustees with our existing independent pension trusteeship business, we have expanded our offer significantly in this area. For the rest of the Punter Southall Group, the merger provides the resources to invest and drive future growth.”