The Department for Work & Pensions has appointed Robert Devereux as permanent secretary. Devereux, a former permanent secretary at the Department for Transport, replaces Sir Leigh Lewis, who retires at the end of December. The appointment, announced by Cabinet secretary and head of civil service Sir Gus O’Donnell, was rubberstamped by David Cameron and secretary of state for work and pensions Iain Duncan Smith.
Goldman Sachs Asset Management has recruited Paul Trickett from rival consultant Towers Watson. Trickett becomes head of the global portfolio solutions group for Europe, the Middle East and Africa at GSAM. He was previously head of investment for EMEA at Towers Watson. Trickett will be tempo-rarily replaced by Towers Watson global head of investment Carl Hess.
LCP has hired Andy Cheseldine from Hewitt as part of an expansion of its defined-contribution team. Cheseldine, who spent five years in Hewitt’s DC leadership team, will become a principal at LCP. He previously worked for Watson Wyatt, now Towers Watson, for nearly a decade.
Former No.10 policy adviser Ros Altmann has joined Saga in the newly created role of director general. She will focus on improving financial education and financial planning.
She says IFAs should have a role in educating and encouraging people to make financial plans.
Royal London chief executive Mike Yardley will step down from the role after 12 years. Yardley, who will leave the company once a successor has been found, plans to use his experience to help the life insurance and asset management to “tackle the many challenges ahead”.
The company will be considering both internal and external candidates in the hunt for a replacement.