The firm has appointed Penrose as its first ever UK PR adviser following a
three-way pitch against Smithfield Financial and one other agency (PR Week, 31October 2003).
WWIC client development consultant Paul Deane-Williams said the firm was keen to promote ten-year pension management mandates over the usual five-year arrangements, and wanted to open pension management to hedge funds and derivatives.
He said WWIC needed PR support as the pensions industry comes under further public scrutiny. The company is keen, in particular, to stress how firms can manage pensions to reduce balance-sheet risk through increased corporate pension liabilities.
‘Risk budgeting across the balance sheet is important for any organisation with pension liabilities,’ said Deane-Williams.
According to WWIC, it advises about half of FTSE 100 companies on how to manage their corporate pensions.
As well as the business pages of the nationals and the Financial Times, Penrose is briefed with targeting trade publications such as Derivatives Week, Credit Risk International, Professional Pensions and Pensions Week.