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Strengthening our business.

We recently announced the merger of our actuarial, investment consulting and pensions administration businesses with Xafinity plc. In this article, we explain more about the deal and what it means for our services going forward.

 

Merging with Xafinity.

Xafinity is a business we’ve known well for a number of years. They are now led by joint Chief Executives, Paul Cuff and Ben Bramhall. Paul and Ben started their actuarial careers with Punter Southall, and held senior positions in the industry for a number of years before joining Xafinity.

As part of the deal, Xafinity have acquired three of our businesses and their respective holding companies, which are:

  • Punter Southall Limited
  • Punter Southall Investment Consulting Limited
  • PS Administration Limited.

We sold the businesses for a combination of both cash and shares. As a result, Punter Southall Group will become the largest single shareholder in Xafinity.

The deal will create a new specialist advisory firm, called Xafinity Punter Southall. They will be the largest “purely pensions” consulting firm in the UK market and as result will be even more competitive when it comes to challenging global consultancies.

Growth for Punter Southall Group.

The deal offers us a strategic opportunity to use the capital released from the sale to strengthen and develop our remaining businesses and to continue our policy of careful diversification. We won’t compete significantly in any service areas covered by Xafinity Punter Southall, so we will be able to work closely with them to offer a compelling range of combined services to mutual clients.

As part of this transaction, Xafinity’s independent trustee business, HR Trustees, will merge with Punter Southall Independent Trustees and become part of the Punter Southall Group. Punter Southall Independent Trustees will consequently double in size.

Improving service for our clients.

Our first objective following the deal is to ensure a seamless service for our clients. To help achieve this we’ll be entering into a Transitional Services Agreement (“TSA”) between the Punter Southall Group and Xafinity. We had a similar agreement when River & Mercantile and PSolve merged and floated in 2014. It helps to ensure that clients continue to receive the same levels of excellent service that they have received in the past.

Get in touch.

If you have any questions about the deal or other aspects of Punter Southall, please get in touch.

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