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Press Releases by Date   |   Press Releases by Company Name

View More Press Releases by Aon plc

Press Release

Schneider Electric Chooses Aon for Fiduciary Management

Issued by Aon plc

July 15, 2019

LONDON (15 July 2019) - Aon plc (NYSE:AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has been appointed by the Trustees of the Schneider Pension Plan to provide full fiduciary management services.

Schneider Electric is the leader in digital transformation of energy management and automation and provides energy and automation digital solutions for efficiency and sustainability. Schneider Electric combines world-leading energy technologies, real-time automation, software and services into integrated solutions for homes, buildings, data centres, infrastructure and Industries. The Schneider Pension Plan is valued at almost
£400 million. Aon won the mandate following a formal tender process and it will be the sole fiduciary manager for the plan's total investment portfolio.

Rodney Turtle, chair of Trustees of the Schneider Pension Plan, said:
"Trustees are faced with new and challenging investment options and economic environments that continue to add to the governance burden associated with managing and overseeing the scheme's assets. After a careful review, the Trustees of the Schneider Pension Plan concluded that the investment selection and management would be better managed using fiduciary management.

"On reaching this decision, and ahead of the guidelines now published, the Trustees undertook a full and formal tender process and were pleased to be able to appoint Aon to manage all the scheme's assets with a very clear long-term return objective aligned to the Trustees and the company's funding strategy."

Rodney Turtle continued:
"Aon's commitment and support during the tender process was considered the best fit to the Trustees' objectives and demonstrated a true focused sense of ownership of the Trustees' desire to deliver the scheme's longer-term funding aims.

"Our solution with Aon gives us access to a significantly wider range of investment options combined with the speed and agility to be able to respond quickly to changes in market conditions. We are confident that with Aon's support the scheme will be able to deliver its investment objectives with a material reduction in risk and a significantly reduced level of funding volatility."

Sonia Gogna, head of Large Client Solutions at Aon, said:
"The Schneider Pension Plan trustees appointed us after a highly competitive selection process. Our approach was very much designed to the specific needs of the Schneider plan. Given their strategic objectives, we created a tailored solution and service model built around their requirements for both today and tomorrow. The trustees have now achieved greater diversification and investment sophistication and been able to re-focus their governance spend more strategically.

"We are now looking forward to putting the plan into practice and working in collaboration with them to provide the best investment outcome and an improved client experience."

View More Press Releases by Aon plc

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