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21 August 2019

LCP posts
record income as firm positions itself for future growth

LCP has reported a record income for the financial year 2018/19 as the firm develops new innovations and technological offerings and reports growth in traditional areas.

The firm has posted income of £114.9 million, an 8.5% increase from 2017/18.

Key figures and highlights include:

  • The DC team’s revenues grew by 15.5% and broadened its focus to include financial wellbeing.
  • LCP was lead adviser on ten buy-in and buy-out transactions over £100m during 2018, including major transactions for the pension plans of Marks & Spencer and Littlewoods.
  • LCP Visualise, a bespoke ground-breaking pensions analytics tool has been adopted by over 350 clients with assets totalling £240bn as at April 2019; and
  • The firm achieved 49 new on-going actuarial, investment consultancy, DC and/or pensions administration appointments in the year, of which 12 were to £1bn+ pension schemes.

The firm has been developing service offerings and new analytics capabilities to add value for existing and new clients. The new Football Analytics practice provides innovative technology and analysis to 8 high profile football institutions, primarily Premier League clubs. The Energy Analytics team has also grown, this year advising the Government and Ofgem on energy policy.

LCP announced new management changes earlier this year to position the firm for continued growth, support succession planning and focus on the key business priority of developing talent. This has included the creation of three new posts: CEO, Head of People and Head of Strategy.

Aaron Punwani, LCP CEO, commented: “This year has been a phenomenal year for LCP, with our talent base, client portfolio and industry reputation reaching new heights. As we increase and expand our expertise beyond the traditional pensions market, our priority will still be to provide independent and client focused service as well as offering exciting career development opportunities for talented individuals.” You can read Aaron's personal highlights here.