Hymans Robertson has acquired Bath Actuarial Consulting (BAC), in a deal which will see its two founds join Hymans as partners.
BAC was founded in 2021 by Leonard Bowman and Andrew Udale-Smith — both of whom had previously worked at Willis Towers Watson.
As a corporate consulting business BAC has clients with DB liabilities ranging in size from £200m to over £20bn and has grown its client base from scratch. At the same time the company has developed governance and technology services, which are used by trustees and DC governance committees of some of the largest UK pension arrangements.
Hymans says this acquisition will boost its offering to corporate across the DB and DC market.
Hymans Robertson senior partner John Dickson says: “We’re excited to be acquiring this outstanding boutique consultancy. Andrew and Leonard bring proven skills in growing and developing corporate relationships that will complement our existing expertise as we continue to build our corporate advisory business in both DB and DC markets.”
Andrew Udale-Smith adds: “At BAC we have built strong, trusted adviser relationships with some significant corporate clients and we look forward to working with the Hymans Robertson team to develop and grow our joint corporate consulting offering.
“We are excited to be working in a firm with such a strong track-record in de-risking and settlement transactions.”