LONDON, 24 January 2023 – Buck, a leading consulting, technology, and administration services firm specialising in pensions and employee benefits, has today announced its fourth consecutive year of strong performance in the U.K., after 2022 saw year-on-year revenue growth of over 10%. This reflects continued innovation and demand across all its core practices.
Leading the firm’s growth were Buck’s award-winning retirement and investment teams that won long-term consulting appointments with the Dun & Bradstreet (UK) Pension Plan, A&P Group, and Phillips 66. The teams also saw the successful launch of both the full-service DB pensions solution, Echelon+, as well as the technology-enabled gap analysis governance solution for trustees. 2022 was also Buck’s most successful year for both settlement deals completed by its risk transfer team and the number of new standalone appointments awarded to the specialist GMP equalisation team, Square.
It also marked the third consecutive year of double figure growth for Buck’s pensions administration area. At the start of the year, the team was appointed by its largest ever DB client, Nationwide, with the following months bringing other significant new business success, while also continuing to support existing clients and drive increased digital interaction. With the launch of its integrated pensions administration, technology, and communications solution, Orion+, Buck now ensures that over 85% of the almost half a million scheme members it looks after have access to an online pensions portal. And the growth of Buck’s data journey planning proposition and expertise has been key in enabling clients to prepare for the Pensions Dashboards programme’s deadlines in 2023 and beyond.
Finally, Buck’s employee benefits business saw continued success with its proprietary employee technology solution, Delta+, winning the Workplace Savings & Benefits Initiative of the Year award. The team was also named Employee Benefits Consultant of the Year at the Pension and Investment Provider Awards, marking a notable double and reflecting the ongoing commitment to improving the financial, physical, and emotional wellbeing of the employees of the clients Buck serves.
David Piltz, U.K. Managing Director at Buck, commented:
“2022 was a milestone year for Buck and I’m very proud of the team, their dedication, and everything they have achieved over the last 12 months. Beyond the headline figure of revenue growth, I’d also like to highlight the number of new solutions that we have brought to market this year. This technology-enabled innovation will allow us to keep our clients, both current and future, ahead of the curve, and deliver real and tangible value for their employees and members. »
In December, it was announced that Buck will be acquired by A.J. Gallagher & Co. (“Gallagher”) to further strengthen its position in the market and continue to build upon both companies’ excellent market reputations, breadth of talent, and client-first mindsets.
Piltz added:
“We are headed into an exciting year for Buck, following the recent news of our planned acquisition by Gallagher. I am certain this combination will provide a fantastic ‘forever home’ for our people and continued excellent, service delivery for our clients.”
About Buck
Buck is an integrated HR, pensions, and employee benefits consulting, technology, and administration services firm. Founded more than 100 years ago as an actuarial consultancy, we’ve evolved to serve organisations and Trustees across the health, wealth, and career spectrum.
With the ultimate goal of securing the futures of our clients’ employees and members, we develop tech-enabled programmes that engage individuals and drive organisational performance. Our award-winning engagement solutions and people-first approach empower the world’s most forward-thinking organisations to protect the physical and financial wellbeing of their employees and members and improve how their people work and live. For more information, visit www.buck.com.
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