London - Director
- +44 (0) 20 7332 5144
Andrew is a director in the Pensions Advisory Services team and is based in London.
Andrew’s previous role, as a financial consultant at the Pensions Regulator, included: deciding on appropriate mitigation packages in transactions; mediating between corporates and trustees and the provision of financial advice for scheme funding to assist in the agreement of deficit recovery plans. His responsibilities also included assembling evidence and providing expert advice to allow the exercise of the Pensions Regulator’s powers and input into the formulation of policy.
Before joining the Pensions Regulator, Andrew spent 32 years in banking, with the latter 16 years in risk and credit roles.
Major recent projects:
Project Sunlight, following the merger of two multinational chemical companies, the combined group undertook a significant global restructuring operation. Zolfo Cooper was retained by the group to provide covenant advice regarding the merger of three UK pension schemes and transfer of all UK employees and pension liabilities to a new service company.
The trustees of a scheme supported by a major UK charity required covenant advice and negotiation support as part of the triennial revaluation process.
A substantial newspaper proprietor, which had been subject to a highly leveraged takeover, undertook a major restructuring following adverse financial performance with the funding banks requiring security. Zolfo Cooper provided negotiating support in what transpired to be a robust negotiation for mitigation, with a compressed timescale. A satisfactory conclusion was reached for all parties, which was subsequently cleared by the Pensions Regulator.
Andrew’s expertise covers:
- Scheme specific funding reviews
- Regulatory clearance
- Regulatory powers
- Negotiation support
- Covenant support
- Pension trustee boards
- Independent trustees
- Scheme sponsors
- The Pensions Regulator