Mercer has appointed Sathish Ramdayal to head up a new Edinburgh-based Financial Strategy Group at Mercer. The group will provide specialist advice to companies in Scotland and Northern Ireland on how to manage the financial risks in their occupational pension schemes.

The move has been made in the light of greater financial challenges facing UK pension funds, including the continuing rise in longevity, the fall in global equity markets and corporate bond yields, and the current fiscal squeeze which has raised fears of increasing pressure on future pension costs. At the end of June 2010, FTSE 350 company deficits stood as high as £85 billion, according to recent Mercer research.

"The rise in life expectancy, volatile investment markets and tougher accounting standards have left many organisations exposed," said Steven Blackie, Mercer's Head of Investment Consulting and Business Leader for Scotland & Northern Ireland. "With an increasing number of final salary scheme closures, many trustees and sponsors are seeking proactive and sophisticated financial strategies to manage their pension balance sheets. It is our intention to build a substantial team in the months ahead, drawing on skills from our investment and actuarial businesses across Mercer," he added.

Ramdayal has over 15 years of industry experience and is a qualified actuary and a CFA Charterholder. He will join Mercer from P-Solve Asset Solutions, the investment advisory and management arm of Punter Southall, where he was Associate Director. Prior to that he was Global Head of Pensions with Barrie & Hibbert, while he has also held consultant and senior manager roles at Watson Wyatt and PWC.