Clive Wellsteed

As Head of our multi-award-winning pension risk transfer team, I help clients to plan, negotiate and implement their endgame journeys, whether that is run-on with the scheme’s existing sponsor or a new sponsor, or transferring the scheme to a third-party such as an insurer or a superfund. This covers the full process from up-front strategy work to select a preferred endgame through to implementation.

When the time is right to transact our 100+ team has a trusted and highly-respected reputation in the market for helping trustees and sponsors complete the right preparation, structuring, execution and post-transaction process, leading to brilliant outcomes for trustees, sponsors and members alike.

I have led the team since its inception in 2006 and have spearheaded its development into a practice of over 100 staff and partners. Each team member brings a unique combination of skills from the transactions they have worked on and the knowledge sharing across our team from the full range of transactions advised on by LCP.

I am proud to have advised on transactions of all sizes, including some of the largest and most innovative in the market. These include over £10bn of buy-ins for the ICI Pension Fund, which was the first scheme to develop and use an umbrella contract to facilitate regular buy-ins over time, £7.5bn of buy-ins for the Trustee of the British Steel Pension Scheme in a first-of-its-kind strategic insurer partnership, and most recently helping Stagecoach evaluate endgame options including insurance and superfunds before completing an innovative sponsor substitution with Aberdeen.

I have a passion for clear communication and bring this out both in my client advice and in negotiating effectively with insurers on transactions.

Aside from de-risking work, I am a Scheme Actuary to four pension plans, including the pension schemes of two FTSE100 companies, with a specific focus in my appointments on linking together the funding, investment and endgame objectives of each scheme into clear and actionable plans covering both run-on and insurance as appropriate to each client’s objectives.