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About us

Cardano Advisory is the covenant advisory business of The Cardano Group, the purpose-built investment and risk specialist.

We have grown over recent years into the UK’s leading specialist covenant advisor with a nationwide offering comprising professionals with backgrounds in credit risk analysis, corporate finance, corporate banking, actuarial, legal and regulatory advice.

Our History

Our story began in 1999, when our two founders, Darren Redmayne and Alex Hutton-Mills, met whilst working together on a transaction. After continuing to collaborate on a number of occasions, they identified a gap in the advice available to the trustees of pension schemes, and set out to ensure that pension scheme trustees were properly informed about covenant risk.

We started as Lincoln Pensions and were established in 2008 as part of Lincoln International, a US-based an investment bank to deliver specialist pensions advice. Working closely with Lincoln International, we advised on pension issues associated with corporate finance transactions.

The team has grown over the years, with further specialists joining, allowing us to expand the range of services we are able to offer to our clients, and ensuring that we remain at the forefront of the industry.

In 2016, we joined the Cardano Group, an independent, purpose-built, risk and investment specialist and financial pioneer. Together, we are well positioned to offer clients innovative and tailored integrated risk management solutions – a key focus of The Pensions Regulator. In September 2021 we changed our name to Cardano Advisory.

For over a decade we have been the leading advisor in the DB covenant advisory industry, delivering services to trustees, sponsors and other stakeholders. We have witnessed many pension crises, like BHS, British Steel and Carillion, and have applied our experience in advising on complex pension issues.

Starting with two members in 2008, the company has now grown to over 45 people in ten years. We have seen great change in the last ten years and have helped to shape the industry through our expert advice, thought-leadership and wide-ranging contributions to regulatory consultations.

“For the last ten years, we have been committed to delivering safer financial futures to the millions of defined benefit pension members in the UK. We look forward to the next ten years!”

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    Fiduciary management

    Cardano UK

    Cardano UK is a fiduciary manager. They help trustees of defined benefit schemes make and implement their most important decisions about long-term objectives, investment strategy and risk management. That means we strive to achieve acceptable outcomes – for trustees, members and corporate sponsors – no matter what happens to economies and markets.

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    Defined Contribution

    NOW: Pensions

    NOW: Pensions is a leading UK multi-employer master trust. Started in 2012, NOW: Pensions serve tens of thousands of employers and 1.8 million members from a wide range of sectors. Part of the Cardano Group, its mission is to help all members save for a better, more financially secure future.

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    Cardano NL

    Since 2000, Cardano has provided specialist risk management services to some of the largest institutional funds in the Netherlands. They help pension funds manage their financial risks to ensure the coverage ratio develops in a stable manner and participants’ pensions are safe and adequate. To do so, they implement the LDI strategy, offer our clients risk management services, reliable execution and in-depth knowledge of the Dutch pension context.

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    Our Values

    We continuously strive to be the best covenant advisor in the marketplace. In pursuing this, we believe:

     

    Specialist Covenant advice is essential: We believe covenant strength is central to effective risk management. That advice is pivotal to the management and resolution of pension issues.

     

    Client service is at the core of what we do: We work with intellectual integrity. Our advice is clear, complete, independent and pragmatic. We give people the facts, however challenging.

     

    A Collaborative approach delivers superior results: We seek the best possible outcome. We do this through a collaborative and constructive approach to working with the sponsor, trustees and other advisors.

     

    We work with our clients’ actuarial and investment advisors to provide IRM-focused advice, ensuring that covenant, investment and actuarial risks are considered holistically.

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    Services

    We are a leading provider of covenant and related advisory services. We advise trustees, sponsors, investors and other stakeholders across a wide range of services. In 2020 we won two awards for the ‘sponsor covenant’ category at the Pensions Age Awards and the European Pensions Awards. In 2019, we won three leading industry awards including two for ‘covenant provider’ of the year, against stiff competition.

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    Careers

    At Cardano Advisory you will work within a dynamic and rewarding environment. You will have the opportunity to join the leading independent covenant adviser to trustees and sponsors with a diverse, multi-skilled and entrepreneurial team. Working at Cardano Adivory is a challenging yet rewarding experience. We seek highly motivated individuals with excellent interpersonal skills, superb academic qualifications and a strong work ethic.

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    Meet our team

    Our team is drawn from a broad background and share experience across credit risk analysis, corporate finance, restructuring, investment, regulatory, actuarial and legal professions. A senior team with an unique breadth of experience.