Benjamin Reid has been appointed as Chief Executive Officer of RiskFirst Analytics, the provider of risk management analytics and advisory services for DB pensions, which this week launched its ground-breaking PFaroe® service.

Benjamin was a founding partner of RiskFirst which, since its launch in 2007, has grown to employ some 50 people, a figure expected to double in the next year. The group now comprises two distinct entities – RiskFirst Analytics, offering risk management analysis and advisory services to the DB pensions industry and RiskFirst Capital, which provides bespoke investment solutions to defined benefit schemes.

Prior to joining RiskFirst, Benjamin was a Director at Wachovia Securities in New York where he was responsible for the origination of a broad range of asset financings.  Before joining Wachovia, Benjamin was the US Managing Director of Burgundy Global, a managed services company specialising in corporate strategy and delivering IT-based ground transportation solutions.

Benjamin began his career on the investment desk of Quadrant Capital, an asset management business, investing in high-grade fixed income products.  In 1999 he became a Director of Quadrant and led the company’s marketing, business development and distribution until Quadrant sold its operating business to the Bank of New York in 2002.

Commenting on Benjamin Reid’s appointment, Timothy Lyons, CEO of RiskFirst Group LLP, said:

“Given his deep understanding of both capital markets and the critical issues facing managers of DB risk today, Benjamin, with his background in managed services is ideally suited to leading RiskFirst Analytics and delivering a truly differentiated offering to our customers in the UK and the US.

“With the introduction of PFaroe’s powerful analysis of DB risk exposures, we  believe that RiskFirst Analytics will help to radically change the way trustees and scheme sponsors manage risk and facilitate their use of much more sophisticated risk transfer solutions.”

Benjamin Reid, CEO of RiskFirst Analytics, added:

“RiskFirst Analytics has been established to offer a level of sophisticated risk analysis and advisory services that has been lacking in the DB industry. One of the reasons DB schemes have become a major management issue for so many corporate sponsors is because they have lacked the appropriate tools and advisory support to measure and manage risk properly. We live in a digital age with increasing focus on standards of corporate governance and out of date paper based reporting of highly volatile financial exposures is no longer adequate.

“RiskFirst Analytics will change the way DB pension schemes are run because for the first time we will enable managers of DB risk to properly understand their exposures and present them with an objective view of all their options to mitigate the risks.  I am very pleased to be leading this exciting initiative and feel that we have a great deal to contribute to the industry.”