Smart Pension hires ex-Aegon/Blackrock DC boss as director of UK distribution

Paul Bucksey has extensive expertise in the UK’s pension industry spanning two decades and at a very senior level

Smart Pension has announced it has appointed ex-Aegon/BlackRock defined contribution managing director Paul Bucksey as director of UK distribution.

Bucksey led the £36bn UK workplace pensions business and played a key role in the Part VII transfer of global asset management and reinsurance firm Aegon’s acquisition of BlackRock’s UK DC platform; before that he helped Fidelity establish a strong foothold in the UK workplace pension market.

Bucksey said: “Smart Pension has demonstrated that it is a genuine disruptor that can dive into both existing and emerging markets.

The way employers approach workplace pensions today has necessarily evolved over the years, and in this market firms are frequently looking to outsource and be left with a high quality, frictionless solution that syncs seamlessly with payroll systems and cycles and is easy to administer.

Smart saw that coming and was able to start with a clean sheet of paper. What I also like about Smart is that it has the ability to evolve in line with the requirements of larger employers looking for innovative, technology-lead DC solutions.

Andrew Evans, Smart Pension co-founder and CEO, said: “Paul has extensive expertise in the UK’s pension industry spanning two decades and at a very senior level.  His deep understanding and impressive market influence will be key as we evolve into a leading player in the wider DC marketplace.

His appointment strengthens our management team and underlines our ambitions to broaden our offering to larger employers as we accelerate dialogues with consultants, advisers and trustees about our technology.

In January, Smart announced J.P. Morgan had taken a minority stake as part of a strategic placement funding round.

About Smart Pension

Launched in 2015, Smart Pension exceeds £4bn in assets under management (AUM) and now serves over one million members and more than 70,000 employers. It is powered by Keystone, Smart’s global savings and investments technology platform.

Aquiline Capital Partners, Barclays, Chrysalis Investments, DWS Group, Fidelity International Strategic Ventures, J.P. Morgan, Legal & General Investment Management, Link Group and Natixis Investment Managers are all investors in Smart Pension.