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Professional Pensions Article: IC Select appoints Ray Martin

Ray Martin has joined IC Select as a director following continued growth in demand for its services.

Martin brings 40 years of experience to the defined benefit (DB) investment governance specialists, having worked in previous pensions roles for blue-chip multinational companies. These include as global benefits director at Tetra Pak, head of pensions and benefits at Royal Bank of Scotland, and vice-president of pensions at DHL.


He previously chaired the Pensions and Lifetime Savings Association’s benefits and investment councils – when the trade body was known as the National Association of Pension Funds – and the UK Investment Performance Committee, the consultative body for the Global Investment Performance Standard.

He is currently also managing director at Protrustee, and a trustee for the Church of Scotland Pension Schemes, a Unity Trust Bank scheme, and the Really Useful Theatres Pension Scheme. He also serves as chairman of the East Sussex Pension Fund board, and vice-chairman of the Scottish Teachers’ Pension Scheme board. 

IC Select said his hire comes after a surge in demand for independent advice following the Competition and Marketing Authority’s (CMA) review into the investment consultants and fiduciary management markets. Over 100 schemes have asked IC Select to help with their investment governance exercises since the CMA report, 60% of which relate to fiduciary management tender and oversight exercises.

Martin said: “IC Select’s reputation as the leading DB investment governance adviser attracted me to their team on my return to Edinburgh. Their independence, research focus, and record of innovation made it an easy choice. It’s really no surprise that their insights are in such high demand given the investment complexity that DB trustees face today. I look forward to helping them add value and make a difference for the pension schemes they serve.”

IC Select managing director Peter Dorward added: “This senior appointment comes on the back of the Covid-19 crisis, which has affected markets and inhibited many trustee boards’ ability to meet and take action. Combined with the CMA review, this will lead to increased delegation by DB trustee boards

“In this environment, Ray’s long experience of working with trustees will be particularly helpful, especially in addressing the surge in demand for investment governance training and education as DB trustee boards seek the right way forward.”


For further information please contact:

Peter Dorward, Managing Director

0131 344 4462

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Donny Hay, Director

0131 344 4463

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Friday, 07 August 2020