XPS Pensions Group Appoints New Head of Covenant

Elen Watson has been appointed as Head of Covenant and as a Partner at XPS Pensions Group.

Elen joins XPS from KPMG's Restructuring practice where she has worked for over 20 years. She has 15 years’ experience in advising trustees and corporates on all aspects of employer covenant including triennial reviews, covenant monitoring and Integrated Risk Management (IRM), transaction reviews and distressed situations. Whilst at KPMG, Elen undertook a twelve month client secondment to The Pensions Trust to establish and build their internal covenant team. Alongside extensive experience with single employer schemes, she also has significant experience in advising complex groups and multi-employer schemes.

Elen, Head of Covenant said “This is a fantastic opportunity and I am excited to join such a great team at a time of significant growth. Understanding employer covenant, particularly in the current environment, has never been more important and I look forward to strengthening and developing our existing covenant offering to provide effective solutions for clients. I have been really impressed by XPS Pensions Group, its reputation in the market and its depth of expertise.”

Patrick McCoy, Head of Advisory at XPS Pensions Group added ‘We are delighted to have someone with Elen’s experience join to lead our covenant advisory services. Current economic uncertainties and TPR recent guidance make it more important than ever to obtain clear insight into the strength of the employer covenant. Elen will help XPS Pensions Group strengthen and integrate our covenant offering with our wider actuarial and investment expertise.”

Elen joined XPS Pensions Group on 4 January.