“They bring original thinking where others bring ‘ready-to-use’ standard solutions.”

Dominique Gibert
Deputy CFO, Vivendi S.A.

  • Actuarial valuation and covenant
  • ALM advice: £5bn assets

“EDF Energy called in Zephyrus Partners to help us perform a strategic review of our defined benefit schemes. They brought clear value to EDF Energy by designing a strategy aimed at supporting the sustainability and affordability of our pension exposure. Their recommendations showed “outside the box” thinking and led to solutions which were leading-edge. Not only did they bring ideas and solutions covering all the pieces of the pension jigsaw, but they showed high levels of dedication throughout and exceptional implementation skills. Zephyrus Partners is a focused team of enthusiastic and highly experienced individuals who make pensions understandable and can find a “win-win” for employers and trustees.”

Rob GuylerChief Financial Officer , EDF Energy
  • Funding advice
  • M&A advice

“RWE brought in Zephyrus Partners as part of the Innogy IPO as unlocking the UK DB pension situation was vital to the success of the transaction. To that effect, Zephyrus Partners not only provided all the necessary actuarial skills but brought a highly commercial approach with highest flexibility that allowed RWE to execute its planned IPO in a seamless way. The Zephyrus Partners team brings a rare combination of highly technical and experienced professionals with outstanding strategic thinking and implementation skills: they are the go-to consultants to resolve complex UK pension issues.”

Frank WeigandCEO & CFO, RWE Power AG
  • Actuarial valuation and covenant
  • Scheme closure with salary linkage
  • ALM advice: £1bn assets

“Zephyrus Partners are Capgemini's trusted corporate pension advisers. They have been instrumental in advising us on UK pension issues, delivering outstanding analysis and comprehensive solutions from benefit design to ALM.”

Lucia Sinapi-ThomasCorporate Finance and Risk Management Director, Capgemini S.A.
  • Actuarial valuation
  • Funding advice

“Mitchells & Butlers engaged Zephyrus Partners to advise on their latest actuarial valuation negotiation. Their approach during the process was highly commercial, combined with responsiveness and an ability to communicate pension complexity in straightforward terms. Zephyrus’ advice provided the Board with a good level of detail with which to negotiate and reach an agreement with the Trustees.”

Tim JonesCFO, Mitchells & Butlers
  • Renegotiating agreements
  • Full scheme buy-in

“The team at Zephyrus made a real difference throughout our journey to full scheme buy-in and have helped us achieve the best outcome we could have expected.

The high quality and experienced team navigated some complex challenges along the way. Their advice helped ensure our interests and objectives were always identified and raised proactively, ensuring a positive impact on the approach taken by the trustees and their advisers.”

Simon MathiesHead of Corporate Finance & Risk Management, LANXESS AG
  • Scheme demerger and buy-out (US, UK, Canada and Germany)
  • Actuarial valuation and covenant
  • Scheme closure
  • M&A advice
  • ALM advice: €1bn assets

“Zephyrus Partners has been instrumental in assisting Vivendi with the management of our pension liabilities. Right from the outset, they offered holistic and strategic leadership and over a number of years executed optimal transactions that delivered a reduction in our pension liabilities of Euro 1 bn, whilst paying Euro 200 mm and generating circa Euro 90 mm of positive EBITDA impact. They bring original thinking where others bring ‘’ready-to-use’’ standard solutions. Their ability to generate cost reductions and their execution capabilities are simply outstanding.”

Dominique GibertDeputy CFO, Vivendi S.A.
  • Post M&A restructuring and debt apportionment
  • Actuarial valuation and covenant
  • Scheme closure
  • ALM advice: £850m assets

“Following the acquisition of Christian Salvesen, GND did a comprehensive review of pension corporate advisers. GND chose Zephyrus Partners because we viewed them as challengers, outside-the-box thinkers who were totally focused on delivering concrete results and savings. As a matter of fact, the results exceeded the expectations as Zephyrus Partners managed to deliver exceptional changes on all fronts (from corporate restructuring, change of future benefit design provisions to change in investment strategy) in an innovative and timely way.”

Patrick BataillardCFO Europe, XPOLogistics
  • Covenant restructuring

“Universal Music in the United-Kingdom had been struggling for years to align the pension scheme structure with the operating businesses. Over time, Universal Music was providing Defined Benefits under a corporate structure that hindered the corporate flexibility and was too expensive to run. The main issue was the multi-employer set-up which triggered potential significant cash calls to the business and an administrative burden that were not sustainable. After multiple attempts, Universal Music called in Zephyrus Partners who came up with a novel solution that allowed to perfectly deliver the corporate objectives. When it comes to innovation and perfect execution within a complex regulatory environment, Zephyrus Partners are the people to call.”

Malcolm SwattonSenior Vice President, Universal Music Group
  • Merger of 24 schemes into 8
  • Covenant mitigation post corporate re-gearing
  • M&A advice
  • ALM advice: £1bn assets

“Veolia Environnement called in Zephyrus Partners for a full strategic review of its UK pension obligations. Zephyrus Partners came with ambitious objectives across scheme restructurings, cost reductions and Asset Liability Management. The objectives were all achieved generating significant savings for the group. Zephyrus Partners' persistency combined with their non-standard thinking and impressive execution skills needs to be praised. Zephyrus Partners is the perfect adviser to hire to resolve issues in a complex environment in a straightforward way.”

Francois BarthalonProject Manager, Direction Générale des Ressources Humaines, Veolia Environnement