Subscribe
Be the first with the news that moves the market- Link Group is slightly down today despite announcing a strategic partnership and investment in Smart Pension
- The company will be joining Legal & General and J.P. Morgan who are current equal investors
- This partnership with Smart Pension will provide Link Group immediate entry into the growing U.K. retirement market
- Link Group’s share price is down 2.07 per cent with shares trading for $5.69 apiece
Link Group is down more than 2 per cent today despite announcing a strategic partnership and investment in Smart Pension.
Link Group will be joining Legal & General and J.P. Morgan who are current equity investors in the U.K. workplace pension provider.
This partnership with the U.K. Fintech provides Link Group with a strong and immediate entry into the growing U.K. retirement market and builds on Link Group’s presence in the country.
Link Group’s investment into Smart Pension provides the company with access to Smart Pension’s platform in the U.K., and exclusive use of the platform in certain areas across Europe and Asia.
Link Group will also take on the administration for Smart’s U.K. workplace pension operation including the administration of the fast-growing Smart Pension Master Trust.
The partnership with Smart establishes a Link Group pension and retirement solutions offering in the U.K.
Link Group’s new U.K. initiative will be led by Susan Ring. Susan will continue her role as CEO, Corporate Markets, EMEA.
Launched in 2015, Smart Pension has already established a presence in the rapidly growing U.K. auto-enrolment market and corporate defined contributed market.
It already has half a million members and 60,000 employers.
Auto-enrolment has required all U.K. employers to automatically enrol their eligible workers into a pension scheme. The rollout of the reforms was completed in early 2018.
This move is a logical expansion of Link Group’s U.K. activities given its expertise in supporting large-scale pensions administration and global clients.
“This partnership will leverage Link Group’s capabilities and is an example of our strategy to identify attractive adjacent market opportunities aligned with our service strengths, with a pathway to future growth,” Link Group Managing Director John McMurtrie said.
Link Group’s share price is currently down 2.07 per cent with shares trading for $5.69 apiece at 1:42 pm AEDT.
