Brindley leaves UBS for new pensions service at Mercer

During his 14-year tenure at the bank, he established its life and pensions group to offer asset and liability modelling and derivatives execution advice to large European insurers and pension funds - a service that was instrumental in UBS winning Risk's interest rate derivatives house of the year award in 2005.

He has joined New York-based consultancy Mercer as chief architect for its new UK pensions advisory and risk management service launched this week, called dynamic de-risking solutions. He will be based in London and report to the head of the new business, Bruce Rigby, who is also Mercer's chief retirement strategist.

In his new role, Brindley will design and implement bespoke risk management strategies for UK defined-benefit pension schemes. These include daily funding level monitoring, rules-based approaches to locking in market gains, liability hedging and measures to mitigate downside equity risk.

See also: UK quantitative easing hits pensions
Interest rate derivatives house of the year - UBS