DB pensions webinar: Investing for endgame in a low credit spread environment

Having started his career as an actuarial consultant, he now specialises in advising on and implementing investment solutions for UK DB pension schemes, with a focus on endgame objectives.
He leads the development of Schroders' endgame proposition, designing investment strategies to support a safe transfer to an insurer through buyout or the continued running of a pension scheme, either on a low-dependency basis or to generate and distribute surplus.
Lawrence has more than 19 years' experience in the pensions industry, spanning actuarial consulting, investment analytics, investment advisory services and fiduciary management. He is a part-qualified actuary and holds a BSc in Neuroscience and Physiology from the University of Bristol.

Duncan writes actionable thought leadership research to offer insights that help Schroders’ clients make better investing decisions.

Prior to joining Schroders, Duncan was a principal in the Global Asset Allocation team at Aon Hewitt, where he was responsible for developing the firm’s long-term strategic capital market assumptions and driving its medium-term asset allocation views across the full range of traditional and alternative asset classes.

He also had spells as an assistant director at a corporate finance boutique and as a trainee investment consultant. Duncan is a CFA charter-holder with a Master’s in Mathematics, Operational Research, Statistics and Economics from the University of Warwick, specialising in actuarial and financial mathematics.

I currently chair five DB pension schemes and am a trustee for several other schemes, varying in size from around £50 million to £10 billion. I am also a trustee on a number of DB investment committees, three of which I chair including a large scheme with a financial services sponsor. I sit on several specialist implementation and income generating end-game strategy sub-groups, two of which I also chair.
Prior to joining LawDeb in 2017 as a professional trustee, I was Head of Fixed Income Product Specialists at Aberdeen Asset Management and prior to that MD of the LDI team at BlackRock/Barclays Global Investors where I worked with some of the largest UK pension schemes.
With an investment background, I have extensive experience of designing, implementing and managing liability driven investment (LDI) strategies, in addition to dynamic deficit-reducing investment strategies and end-game strategies covering a broad spectrum of asset classes.
I have also worked with various schemes to implement buy-ins and buy-outs; have experience of close engagement with the Pensions Regulator and have worked closely with a challenged sponsor to implement a robust quarterly covenant monitoring process.
I am currently Chair of the CFA Technical Committee that oversees the CMA required reporting standards in fiduciary management.