Trio of partners say farewell

Nick was among the original group who set up the company in 1989 at a time when BW’s main line of business was actuarial consulting for pension funds, insurance companies and the Institute and Faculty of Actuaries through the CMI.

Over the past three decades, Nick has played a key role in growing the business into the successful, industry-leading organisation that it is today with a broad offering of advisory and administration services for its substantial client base.

Senior partner, Andrew Vaughan, thanked the trio for their fantastic influence and individual success, adding: “I want to personally thank Nick, Shirley and Dave for their contribution to BW over the years, and I wish them all the best in their next adventures.

“I particularly want to thank Nick for his contribution as one of the founding partners of BW. Our growth from three offices (in London, Buckinghamshire, and Leeds) with a total of 17 people at the outset of the firm to nine offices with over 1,450 people today is a massive achievement for a firm that is still only 33 years young. Nick's contribution to this should never be underestimated.“

Reflecting on his time at BW, Nick said: “I have been lucky to work somewhere that I have loved and to be able to influence its growth and what it stands for. It has been my life for 33 years, and now it is on to the next chapter.”

Throughout his actuarial career, Nick specialised in advising companies and trustees operating occupational pension schemes.  His experience led him to become a highly respected expert in contentious litigation where actuarial expertise was required.

Colleagues will fondly remember Nick as someone who cared deeply for everyone working at BW and his clients too. He never takes himself too seriously which always made him great fun to be around. He always had a great passion for nurturing the unique BW culture, centred around ‘doing the right thing’ and was a passionate supporter of diversity, both within BW and more broadly in the actuarial community.

Nick served as BW’s Senior Partner for eight years, but his influence was also felt more widely. He served on the Council of the Institute and Faculty of Actuaries from 2006 to 2016 including being President of the merged Institute and Faculty of Actuaries in 2014/2015.  He brought to his role as President his deep-seated belief that the actuarial profession must embrace diversity – both of thought and of work that actuaries are well-placed to do.  He believes that actuaries have certain skills and that the key is to harness those skills for the benefit of the public good, whether in the pensions or insurance fields or more widely in identifying and mitigating business risks.

In 2018 he became Master of the Worshipful Company of Actuaries, a livery company in the City of London which focusses on charity and community as well as having a role in the civic governance of the City. Again, Nick has striven to ensure that the company is open and welcoming to actuaries from all backgrounds so that it benefits from the diversity of members of the actuarial profession. 

Nick says he’s planning to travel during his retirement and possibly take up golf again. He added: “Whatever lies ahead for me, I will follow BW’s progress with interest. Of course, it will continue to evolve but it is a great place with a great future and full of great people.”
 

Shirley Jackson, whose principal responsibility as a longstanding BW partner has been the leadership of our thriving Pensions Management team, said she is looking forward to spending more quality time with family and friends, as well as challenging herself to achieve optimum health and fitness.

Shirley has been a driving force in Pension Administration since joining the firm in 1998. She was made a Partner in 2006.

As a Partner she has always looked to identify new areas of work and in 2013 Pension Management was launched to offer pension scheme trustees ongoing management, project management, secretarial, governance and bespoke consulting services.

Since then the service area has expanded significantly and now involves 40 people generating around £3.6m of annual income.

It has been such a success that Management Board took the decision that Pension Management should become its own Business Area. This will go forward as Pension Executive and Pension Management Services under Paul Jayson’s leadership.

Shirley retires from Barnett Waddingham leaving behind a successful new Business Area as just one of her legacies. 

She said: “What I value most highly about BW is the people I have met and worked with along the way. 

“We share the same values, and we listen to and support each other to achieve our collective goals.” 

Partner and Head of Longevity Consulting, Dave Grimshaw, concludes his career in a position which has allowed him to advise UK insurance and reinsurance companies on the financial issues around managing longevity risk.

His largest client at BW has been the CMI, a subsidiary of the Institute and Faculty of Actuaries. Dave’s work with the CMI started even before his time at BW – as a volunteer, he was instrumental in founding its Critical Illness Committee and was its first Chair. Since joining BW, Dave has worked with several of the CMI committees – including acting as ‘CMI Secretary’, a key role in ensuring the ongoing success of the organisation.

He said: “Perhaps the luckiest aspect of all has been the people I have worked with, both here at BW and at my previous employers. I have made some friends at each firm who I expect to remain friends for life!

“What does the future hold? In a similar way to the unplanned developments in my career, I don’t actually know! I really should start thinking about that soon.”