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Risk Transfer Floodgates Hold, For Now

In his role as vice president of liability-driven investing (LDI) strategies for PGIM Fixed Income, Tom McCartan is responsible for the development of custom LDI solutions for Prudential’s many pension plan clients.

Prior to joining PGIM, McCartan was based in the United Kingdom, where he spent several years at Redington, a London-based investment consultant for U.K.-domiciled defined benefit (DB) pension plans. Prior to Redington he worked as an actuarial analyst with Mercer in Belfast.

According to McCartan, now focusing on private pension plans here in the U.S., there are some striking differences between the European and American scenes when it comes to pension plan management. The more long-term and strategic approach typically embodied by private pension plans in the U.K. has allowed those plans to be early adopters of LDI and other forms of de-risking. Plans in the U.S. are playing catch-up.

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