LONDON (10 August 2017) - Aon plc (NYSE:AON), has been appointed by Givaudan SA to provide global delegated investment management services to the company’s three largest pension plans.
Givaudan, headquartered in Geneva, Switzerland, is the largest fragrance and flavour manufacturer in the world, with offices in 95 locations and with pension funds totalling $1.5 billion. With this appointment, Aon will provide investment management services across multiple countries. Aon also worked with Givaudan to set up an internal governing body to make strategic risk management decisions and to provide oversight of its global pensions, while delegating the execution of the risk management strategy to local trustees supported by Aon fiduciary teams in local markets.
Jos Umans, head of global benefits, at Givaudan, said:
“Aon helped us to understand the risks we were carrying in our pension portfolio globally, and offered us the opportunity to manage the cost and operation of our pension plans more effectively from all perspectives. Using Aon’s approach to managing pensions globally, we are able to systematically reduce risks and allocate capital to fund pension obligations more effectively.”
Sion Cole, senior partner and leader of Aon’s delegated investment solutions across Europe, said:
“We are very pleased that Givaudan has decided to work with Aon in this way. We are working closely with their corporate team and local trustees under a consistent global framework to manage information flow for informed decision-making, and to execute their strategy on the ground. They are ideally placed to take full advantage of the increased flexibility and investment opportunities that a delegated approach now offers them.”
Andy Cox, CEO EMEA at Aon Hewitt said:
“Givaudan’s corporate and regional finance and HR leaders are to be commended for working collaboratively to take charge of pensions globally, and for implementing a comprehensive strategy to manage risks in multiple jurisdictions around the world.
“Global delegated investment management mandates are still not very common – but we are certainly seeing a trend among multinationals to manage pensions more centrally. There will soon be more organisations that see the merits of maximising efficiencies and the investment potential of their pensions under global fiduciary mandates.”
For further information please contact:
Colin Mayes Marina Sanchez
01372 733689 07535 693214
Notes to Editors
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
Givaudan is the global leader in the creation of flavours and fragrances. In close collaboration with food, beverage, consumer product and fragrance partners, Givaudan develops tastes and scents that delight consumers the world over. With a passion to understand consumers’ preferences and a relentless drive to innovate, Givaudan is at the forefront of creating flavours and fragrances that ‘engage your senses’. The Company achieved sales of CHF 4.7 billion in 2016. Headquartered in Switzerland with local presence in over 95 locations, the Company has more than 10,000 employees worldwide. Givaudan invites you to discover more at www.givaudan.com.
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