L&G has promoted Rachel Cutts as to be head of origination and execution within its institutional retirement business.
Cutts has been with L&G for nine years, most recently working as chief of staff to institutional retirement CEO Gareth Mee. Prior to this she was execution director, leading complex transactions and working closely with trustees, advisers and EBCs across the market.
She replaces Dominic Moret who has recently moved to Canada Life.
Her appointment reflects L&G’s continued focus on risk transfers and helping DB schemes secure their members’ benefits for the long term.
L&G says that schemes increasingly look beyond pricing alone, with greater emphasis being placed on execution certainty, transition support and member experience when selecting an insurer.
In Cutts new role, she will lead the team responsible for supporting schemes through the transaction process, working across origination, execution and the wider business to help deliver a joined-up journey for trustees, sponsors, advisers and members.
L&G managing director, PRT, institutional retirement John Towner says: “This appointment reflects the strength of talent within our business and the strong reputation Cutts has built across the market over many years.
“She combines technical expertise with strong commercial judgement and is highly regarded for her ability to build trusted relationships, understand clients’ objectives and help them navigate complex challenges.”
He adds that Cutts has played a key role in a number of the insurers most important transactions.
He adds: “Her leadership will help ensure we continue to deliver the high standards of service, responsiveness and support that clients value from L&G, while maintaining our focus on positive outcomes for members.”
L&G head of origination and execution, institutional retirement Rachel Cutts adds: “As the PRT market continues to grow and becomes increasingly sophisticated, clients are looking for a partner that can deliver expertise, certainty and a seamless experience throughout the initial buy-in transaction, the journey to buyout and beyond.
“Over my nine years at L&G, I’ve seen first-hand the strength of our team and the value of combining market-leading execution with long-term support for clients and pension scheme members. I’m looking forward to leading the origination and execution team and building on that strong foundation.”