Gavin Smith joins LCP from Legal & General

Pensions & benefits Scheme actuary and trustee actuarial services Pension risk transfer LCP news

Michelle Wright Partner and Head of Pensions Strategy

Clive Wellsteed Partner and Head of Pension Risk Transfer

LCP today announces that Gavin Smith has joined the firm from Legal & General (L&G), where he was previously Financial Risk Director.

Gavin will join LCP’s award-winning pensions actuarial and risk transfer teams as a Principal, where he will help clients design and bespoke their endgame strategies. Gavin will draw on his deep understanding of how an insurer considers and manages risk to help pension schemes that wish to run on or utilise surplus do so in a robust way that optimises risk and member and stakeholder outcomes. For pension schemes who wish to insure, Gavin will bring best-in-class advice and execution, drawing on his prior experience of heading up the Pricing and Execution function at L&G. There, he was responsible for new business quotes, pricing strategy, and post-sale actuarial implementation.

Gavin most recently led a team of 16 senior risk professionals, overseeing Legal & General’s financial risk exposures. He also served on L&G’s Group Risk Financial Risk Committee, providing opinions and approvals on business proposals and groupwide risk appetites.

Gavin’s hire follows several other senior hires made by LCP in recent years, including Stuart McDonald MBE (Head of Longevity and Demographic Insights and Deputy Chair of the CMI), David Fairs (previously Executive Director for Regulatory Policy, Analysis and Advice at the Pensions Regulator) and Sir Steve Webb (a former Pensions Minister), whose combined insights and experience all serve to support pension schemes in staying at the forefront of regulatory and policy developments and developing robust, risk-managed endgame strategies.

I have always admired LCP for its market-leading expertise, and I am thrilled to join this exceptional team. With nearly a decade of experience in the insurance industry, and 15 years of experience in pensions consultancy prior to that, I am looking forward to using my knowledge to help LCP’s clients make informed decisions for their members and stakeholders. Whether schemes are looking at buy-out, run-on, or something in between, I am committed to providing considered, pragmatic and actionable advice to help them achieve their goals.

Gavin Smith

We’re delighted to welcome Gavin to LCP and excited about the complementary skills and experience he brings to our clients at a time when endgame strategy is high on pension scheme agendas. Gavin’s risk management expertise, coupled with his deep insights into the insurance regulatory regime, will be invaluable in helping our clients to understand and carefully design risk-managed strategies, that are tailored to their specific circumstances, objectives, and risk appetite – whether those strategies involve running-on for a period or moving to insurance or consolidation.

Michelle Wright Head of Pension Strategy at LCP

Gavin brings a phenomenal amount of knowledge, insight and experience from one of the best-known insurers in the market. In a fast-changing market, having access to his insurer-side insights will bring enormous value to our clients as they seek the best value, terms and member experience in a competitive insurance market. Not only this, but Gavin is a brilliant fit for LCP, and I know he will be in demand both internally and with our clients.

Clive Wellsteed Head of Pension Risk Transfer Team at LCP