Cardano appointed by GSK for £10 billion advisory role

January 2014

Cardano, the leading investment adviser and fiduciary manager, today announced their appointment as the investment advisor to the Trustees of GSK’s £10 billion pension schemes.

The appointment, after a competitive tender process, brings Cardano’s total client funds to £50 billion, of which £40 billion are advisory and £10 billion are fiduciary, managed on a fully or partially-delegated basis. Mark Ashworth, Chair of Trustees, said: “We were extremely impressed with Cardano’s confident approach and their focus on helping us improve, whilst further stabilising, our funding ratio through the effective management of the assets against the liabilities. Their strong track-record, insight and depth of experience will be an excellent addition to our existing team.”

Richard Dowell, Head of Clients for Cardano UK, said: “We are very pleased to be working with the Trustees of one of the UK’s leading FTSE companies. Our focus will be on helping the Trustees – and the scheme’s sponsors – to develop their planned and controlled path to improving the funding ratio.”

Release date 14 January 2014