Willis Towers Watson appoints Richard McEvoy in New York office
Willis Towers Watson has appointed Richard McEvoy to the role of Delegated Integrated Solutions lead for the firm’s US operations. The role will see him support some of the larger pension plan sponsors as they face uncertainties in market conditions. McEvoy will be based out of the firm’s New York office.
Pension funds face increased pressure as the population ages, with assets and liabilities already out by more than $7 trillion in US public pensions alone, according to a 2017 Citi report. While de-risking is taking place, with bonds seen as a safe haven for funds, current market uncertainty means that risk management expertise is increasingly in demand.
One such expert is Richard McEvoy, who has a more than 22 years of industry experience. Prior to joining Willis Towers Watson, he worked for the US arm of global risk management consulting firm Mercer, as the US Leader of its Financial Strategy Group, based in New York. The work saw him provide pension buyout advice and solutions to US clients. Earlier roles at the firm include the launching and leading of the firm’s Delegated De-risking Solution in 2010, and the development of the firm’s Mercer Frozen Plan Solutions in 2008.
He holds a bevy of actuarial consulting related professional qualifications, including being a CFA, FIA, FSA, EA, and an MAAA.
The appointment sees McEvoy join the firm’s New York office, where he will lead the development of a new delegated investment value proposition focused on creating solutions for clients in the investment and actuarial services space. The role will see him additionally take on engagements related to strategic investment advisory to the firm’s large pension plan sponsors.
Commenting on the appointment, Clint Cary, US head of Delegated Investment Solutions, said, “We are very excited to have someone with Richard’s experience join our team. The creation of this position represents our commitment to solving clients’ retirement plan management issues with fully integrated solutions. Our Delegated Investment Solutions business is dedicated to helping clients achieve their goals, accounting for all areas of both asset and liability management in today’s complex capital markets.”
Earlier this year, the risk management, insurance, and HR advisory firm revealed that it would once again be looking to acquire firms in its areas of expertise, as well as in adjacent fields. The multinational giant had a brief cooling off and integration period from the time that it was formed in January 2016 by the merger of Willis Group and Towers Watson.
