LCP continues on
growth path as firm treads new ground, keeping focus on clients and colleagues

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LCP has posted a record £142.1m income for the 2020/21 financial year, as the firm continues to attract clients in the pensions space and grow into new service areas. This is a 12.3% increase on last year.

Aaron Punwani, CEO of LCP, said:

“Caring for our clients, our colleagues and the community have been our watchwords as a firm over the last year.  We have continued to grow and deepen our client relationships, expand our range of services, and make a real difference to the causes that matter the most to our people by ensuring that Diversity & Inclusion plays a central role in our culture.

“The full scale of the impact of the pandemic on the wider economy is yet to emerge, but maintaining our investment in people, services and technology will put LCP in the best position to continue to meet our clients' needs and create a stimulating and rewarding environment for talented individuals.”

Key highlights from the year have included:

  • LCP’s Partners increased their ownership of the firm with the support of Charterhouse Capital who bought out the minority stake held by Inflexion Private Equity. This means that a larger majority of the firm’s equity will be held internally and available to motivate and reward individuals progressing through the ranks of the firm.
  • The firm’s Winchester office has been completely refurbished using solar panels and renewable energy providers to improve environmental efficiency.
  • Lead adviser on 18 of the 66 buy-in and buy-out transactions over £100m during 2020, including major transactions for the pension plans of Littlewoods, 3i, Deutsche Bank and LV=, the latter including the conversion of a longevity swap into a buy-in.
  • The DC team made further client wins, winning major appointments with firms such as Zurich, Co-op and Cummins.
  • Achieving the gold standard of accreditation from the Pensions Administration Standards Association (PASA).
  • The Energy Analytics team grew income by over 50% as an increased focus on meeting Net Zero ambitions in the power market demanded ever more sophisticated analysis. 
  • The launch of the new health analytics practice combining actuarial, data science and technology capabilities to support decision makers across healthcare and life sciences sectors
  • LCP Visualise, the ground-breaking pensions analytics tool, has been adopted by over 350 clients, with assets totalling c£300bn.
  • High profile industry campaigns. This included one to help women claim back their underpaid state pensions spearheaded by Sir Steve Webb, which resulted in the government pledging £3 billion to put this right.
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