Isio Group has completed its acquisition of Deloitte Total Reward and Benefits Limited, the UK pensions advisory business of Deloitte LLP, following FCA approval.
This acquisition marks a significant milestone for Isio, as it is their second major transaction since its formation in 2020. With this acquisition, Isio’s workforce has now exceeded 1,000 employees spread across 10 office locations in the UK.
DTRB is known for providing actuarial, pensions administration, and investment services to a wide range of prominent organisations and pension plans throughout the UK.
Isio has expanded its operations by establishing a new location in Belfast, where the existing team of 100 employees will be led by Mark McClintock, now a partner at Isio.
The new colleagues will join Isio’s existing offices located in London, Glasgow, Edinburgh, Leeds, Manchester, Birmingham, and the newly established office in Belfast. The Belfast team will occupy brand new office space situated in One Donegal Square South, in the center of Belfast.
This acquisition reinforces Isio’s core pensions advisory business, enhancing its capabilities in areas such as defined benefit consolidation and pensions transaction advisory services.
Isio Group is now projected to generate annual revenues of approximately £140 million. This expansion provides Isio with increased scale and a wider range of expertise, presenting opportunities for further service expansion in the future.
Isio chief executive Andrew Coles says: “This is an exciting new chapter for Isio. We are joined by an immensely talented team who will complement our existing skills and bolster our market disruptor position as a growing force in the pension advisory business.
“The completion of this acquisition enables us to properly welcome our new Isio colleagues and start leveraging our combined strengths to grow our business creating further opportunities for our clients and people.
“Isio has combined a strong financial performance with strategic execution since we launched in 2020, with backing from Exponent. With this acquisition and addition of our new Isio colleagues, we are now in a strong position to push on and challenge the status quo in pensions advisory.”