Grant Thornton strengthens pensions advisory team with new
appointment
Leading business and financial adviser Grant Thornton has
announced that Len Fawke, formerly Head of Scheme Funding at The
Pensions Regulator, has joined their Pensions Advisory team.
Fawke led the Pensions Regulator’s Scheme Funding team from
February to December 2007 during what was a critical period of
growth and development for the watchdog.
In this capacity, Fawke had a significant input into directing
the application of the Pensions Regulator’s risk based model and
its implementation of the first tranche of recovery plans, received
during 2007, a period in which the Scheme Funding requirements of
the Pensions Act 2004 came to the fore.
Fawke gained a significant insight into the developing pensions
market and the challenges it faced. Commenting on his
appointment, Len said, “I wanted to join Grant Thornton because of
the firm’s strong reputation and am excited by the role within the
pensions advisory team. It will provide me with the opportunity to
contribute to the growing success of this team.”
Fawke is both a Chartered Accountant and Chartered Tax Adviser
and was for 16 years a partner in a big four firm dealing with a
wide range of corporate transactions involving companies ranging in
size from medium sized family businesses to the largest
multinationals. He subsequently became Chief Financial Officer of
one of his international clients where he experienced first hand
from an employer’s perspective the issues concerning a UK defined
benefit scheme with a substantial deficit.
Commenting on the appointment Darren Mason, Head of Pensions
Advisory within the Recovery & Reorganisation practice at Grant
Thornton said, "We are delighted to welcome Len on board. He
brings extensive business experience as well as an in depth
knowledge and understanding of the regulated pensions environment
gained from working within the Pensions Regulator at the highest
level."
NOTES
Len Fawke has had a special interest in the SME sector and was
previously a Director of the Leeds Chamber of Commerce and Industry
from 1984 to 2001, a founder Director of Business Link Leeds and a
member of the British Chambers of Commerce Economic Affairs
Committee from 1990 to 1998, serving as its Chairman from 1994.
Grant Thornton offers the largest dedicated specialist team
advising on employer covenant issues. The team has advised on over
250 situations over the last four years, many involving FSTE 100
businesses and on corporate transactions valued at over £1bn.
Advisory services provided by the team centre around the
assessment of financial strength of pension scheme employers to
assist with the development of scheme funding and investment
strategies and to support applications for Clearance from
Contribution Notices and Financial Support Directions as part of a
corporate transaction. The team also advises banking
syndicates to financially distressed businesses on complex
restructurings involving large defined benefit pension scheme
obligations.