Senior Consultant, Tower Watson, United Kingdom
Paul Kitson is a senior consultant with over 10 years’ experience advising a range of UK pension funds and their corporate sponsors on all aspects of pension risk management.
Over the last 5 years Paul has specialized in advising corporate sponsors and UK pension fund Trustees on derisking and transferring liability to insurance and banking counter-parties. In 2009 Paul led the Merchant Navy Officers Pension Fund (a multi-billion industry wide UK pension fund) £500m buy-in with Lucida (the specialist insurance company). This was the largest buy-in transaction of 2009.
In 2010 Paul led the ground-breaking transfer of £1.3bn pension liabilities via a synthetic buy-in from one of British Airways pension funds to Rothesay Life, the wholly owned insurance subsidiary of Goldman Sachs.
Paul has also been actively involved in a number of other risk transfer projects including advising on longevity hedging strategies, enhanced transfer value exercises and pension increase exchange exercises.
Paul is a frequent speaker on the subject of pension fund derisking in the UK and one of the market leaders in transferring liability to insurance and banking counter-parties