Punter Southall Governance Services (PSGS) and 20-20 Trustees (20-20) are merging to form Vidett.
Wayne Phelan, former chief executive officer of PSGS, and Naomi L’Estrange, former managing director of 20-20, will lead the new company together as co-chief executives.
Vidett is a privately owned business, independent from any other provider of services to corporate pension and employee benefit schemes. Vidett currently looks after over 475 clients, has 120 staff and has total assets in excess of £142bn and over 2.5 million scheme members.
L’Estrange and Phelan say: “We both independently concluded our businesses were complementary and combining them would add significant impetus to accelerate our growth plans. 20-20 and PSGS had different attributes but similar ambition and cultures, based on collaborative teamwork, sharing knowledge to drive progress for our clients and embracing innovation. As both firms have always been committed to delivering the best client service, this will be a key measure of Vidett’s success in the future.
“The opportunity to work together excites us and we both believe this merger will be a significant boost for our teams. They’ll be part of a strong, confident business intent on leading the way in professional trusteeship and pension governance. We hope this will make us the employer of choice in what is a very competitive market.
“The way we’ve worked so well together over the past months to create Vidett demonstrates how well aligned our teams are, how strong our vision for the business is and how quickly we can integrate.
“Importantly, these are clear messages to both our clients and the professional advisers we work with about the seriousness of our offering and commitment to the market and the cohesion of Vidett.”
