XPS Pensions Group saw its pension administration and investment consulting businesses grow over the past year, resulting in total revenue growth of 8 per cent.

The firm also announced today (28 November) that it has acquired Trigon Professional Services Limited (Trigon), the pensions advisory arm of Trigon Pensions Holdings Limited.

Trigon provides actuarial, administration, consultancy, and investment advisory work to pension schemes and sponsors, and XPS said that its acquisition was part of its “continued growth strategy”.

“We are very pleased to announce that Trigon will become part of the XPS Group,” said Trigon managing director, David Gascoigne.

“We think there is a really strong cultural fit and, by joining the XPS Group, we are able to focus on our core business value of keeping our clients at the heart of everything we do.”

Between September and September 2019, revenue from XPS’s administration business increased by 19 per cent to £20.3m, which was attributed to an increase in members under administration.

The firm’s investment consulting revenue rose 11 per cent to £4.2m, while its actuarial and consulting business revenue remained at £27.7m.

Its total revenue increased from £52.2m to £56.3m.

Commenting on the results, XPS co-CEO, Paul Cuff, said: “We are pleased with our overall progress, including in the pensions actuarial and consulting business where we have achieved a number of new client wins.

“With increased resourcing levels and key strategic hires, this business unit is well placed to return to growth in the second half of the year.

“The good progress we have made on operational integration puts us in a strong position to take advantage of the market opportunities before us.

“Our new business pipeline across the group remains healthy and our industry profile combined with our expertise means we are well placed to convert these opportunities.”

Share Story: