State Street and PensionsFirst Analytics to Offer Defined Benefit Pensions Industry Solution
State Street Corporation and PensionsFirst Analytics (PFA) has announced a strategic alliance marked by State Street’s minority equity investment in PFA.
PFA recently launched PFaroe, a web-based service that it expects to enhance the measurement and management of defined benefit (DB) pension risk. The solution provides an actionable view of plan assets and liabilities on a single platform believed to be unique in the industry. The vendor says that this new capability will enable pension sponsors, trustees and advisors to access detailed cash flow projections and scenario analysis. With this expanded analytics toolset, sponsors, trustees and advisors will be able to make better-informed and more timely investment and de-risking decisions.
As part of State Street’s investment in PFA, Joseph Antonellis has joined PFA’s board as non-executive chairman. Separately, Amelia Fawcett, a State Street board member since 2006, resigned from the board of PensionsFirst Group in March 2010, effective upon the selection of her replacement. PensionsFirst Group is the majority equity owner of PFA.