Rothesay chief Loudiadis to step down after 15 years
Addy Loudiadis is stepping down as chief executive of Rothesay, a group she co-founded within Goldman Sachs 15 years ago and has since turned into the largest UK pensions insurance specialist.
Rothesay operates in the so-called bulk annuity market, where companies pay insurers to take over their corporate pension liabilities and the assets backing them. Companies are increasingly taking this route to shift legacy pension funds off their balance sheets.
Rothesay was founded in 2007 as a unit within Goldman by Loudiadis and Tom Pearce, its managing director who today replaces her as chief executive. It later flirted with an initial public offering before Goldman sold its remaining stake in 2017. Rothesay is now backed by US insurer MassMutual and Singapore sovereign wealth fund GIC and was last valued at £5.75bn two years ago.
This story originally appeared on: Financial Times - Author:Ian Smith
