OUR ADVISERS

Cheviot appoints the adviser who can best deliver against its objectives in each area.

Cheviot follows a detailed process for the appointment and review of advisers. Advisers are managed by the Chief Executive who reports to the Board on their performance every quarter. The Board undertakes a detailed review of all advisers once a year, looking at performance of core functions and also the delivery of any added value. This annual process also considers whether any appointments should be put out to tender.

  • First Actuarial LLP – Hilary Salt, a founder of First Actuarial, is Scheme Actuary to the final salary schemes. First Actuarial was set up in 2004 and has no external shareholders. The firm plays an active part in government and industry affairs.
  • XPS Pensions Group – Peter Black, a partner, is Scheme Actuary to the With Profits Section. XPS Pensions Group is the largest pure pensions consultancy in the UK and uses the benefits of scale to invest in solutions for their clients.
  • River and Mercantile Group – River and Mercantile is a key partner in Cheviot’s approach to investment. River and Mercantile offers services from consulting to fully delegated fiduciary and long-term asset management. Details of the investment fund managers are available in the Statement of Investment Principles for each section of the Trust.

Cheviot currently uses three lawyers for different aspects of its work.

  • Crowe UK LLP – Led by Judith Hetherington, partner, the team at Crowe is an essential part of the Cheviot approach, providing the usual audit function for the statutory accounts but also acts as the auditors responsible for the audit assurance reports.
  • PwC LLP – Led by Mark Jennings, partner, the team at PwC provide a covenant assessment service for the Trustee.
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