Our Executive Team

Mike Faulkner, Chief Executive Officer

As Chief Executive Officer of P-Solve, Mike is responsible for all areas of the business' capability, including the development of its services and maintenance of their quality.

He has 18 years experience in the investment industry in both consulting and asset management. In particular, he has developed thinking on strategic investment issues, provider selection and evaluation and ways of structuring investment arrangements to improve performance.

Mike has worked in a wide range of fields, from the development of financial objectives, investment strategies and structures, to the selection and implementation of investment management arrangements.

Jack Berry, Managing Director

Jack has 15 years experience in finance and investment banking. For the last 4 years he has been responsible for the development and implementation of structured product solutions for UK pension clients. Jack started his career with a major accounting firm and is a qualified chartered accountant. He has an honours degree in accounting and a Masters in Finance from the London Business School.

Recent client projects

For a £120m defined benefits scheme, implemented equity and liability hedging against a tight timetable to occur simultaneously with a capital injection at the date of ownership change which returned the scheme to full funding. The Trustees wanted to protect the repaired funding status whilst the longer term investment strategy was developed.

Advised the sponsor of a £350m defined benefits scheme on its engagement with the Trustees and their advisers in the implementation of equity - and liability - risk overlays to significantly reduce the aggregate risk of the investment strategy without materially impairing the expected return assumptions. This involved a review of the liability hedge design and specification of the attributes of the equity derivatives.

For a defined benefits scheme with assets in excess of £3bn, implemented a £350m futures hedging programme to manage equity risk in the portion of the existing equity portfolio that was to be transitioned into alternative asset classes over the subsequent three months.

For a £180m defined benefits scheme, guided the Trustees through the strategic decision-making and education process to enable the implementation of a diversified liability driven investment strategy across multiple asset classes including unconstrained equity, an equity derivative strategy, Broad Bonds, DAA and an Absolute Return Fund based Portable Alpha strategy. A liability hedge was used to mitigate liability risk not matched through the asset allocation.

Major areas of investment capability and interest

Jack has done a significant amount of development work on the use of derivative instruments in structuring bespoke liability-matching investment solutions including the use of alternative investments. He established the firm's implementation capability for client-specific bespoke structured solutions in 2004 and led the design of PSolve’s liability driven overlay solutions in 2005.

In addition, he also has considerable experience in transaction structuring in a number of jurisdictions.

John Conroy, Managing Director

John is a Managing Director of P-Solve and is responsible for all client-related matters and external relationships of the business.

He has over 20 years experience in the investment industry, in both consulting and asset management. He has wide experience of working with pension schemes, insurance companies and other institutions on the full range of investment issues. In particular, he has developed thinking on strategic investment issues, provider selection and evaluation and ways of structuring investment arrangements to improve performance. In addition, he has worked on a number of international arrangements concerned with developing cross-border strategies for managing global pension assets.

John has worked in a wide range of fields, from the development of financial objectives, investment strategies and structures, to the selection and implementation of investment management arrangements. He has also provided advice to investment management firms on strategies for the development of their business and the improvement of service quality.

Andrew Drake, Managing Director

Andrew co-founded the P-Solve business with Mike Faulkner, CEO, and re-joined early in 2009 as a Managing Director, responsible for organisational strategy.

He has 17 years experience in the finance and investment industry, in consulting, asset management, investment banking and accountancy. During that time he has managed a number of businesses and led teams involved in winning and managing significant client relationships.

He has wide experience of working with pension schemes, corporates and other institutions on the full range of investment issues. Prior to re-joining P-Solve, Andrew ran the UK Pensions desk at Morgan Stanley Institutional Securities. Andrew is a part-qualified accountant and holds an honours degree in Economics from the University of Leeds.

Glyn Jones, Chief Investment Officer

As Chief Investment Officer of P-Solve, Glyn is responsible for the quality and suitability of all investment services offered to P-Solve’s clients. This is achieved by the oversight of, and participation in, P-Solve’s investment decision making framework.

He joined the financial services industry in 1992 and has experience in consulting, asset management and derivatives trading. Particular specialisms include asset allocation, structuring of derivatives and risk management. He has expertise in the application of a wide range of investment products and instruments and has worked in a wide range of fields designing and implementing investment solutions for pension schemes, insurance companies, retail product issuers and corporate clients.

Glyn chairs P-Solve’s Investment Committee and sits on P-Solve’s Derivatives Policy Committee, Fiduciary Management Committee and Investment Strategy Committee.

Masroor Ahmad, Head of Risk Management Solutions

Masroor has 18 years experience in the financial services industry primarily in derivatives trading and risk management advisory. He has particular experience in equity and fixed income derivative structures. He joined P-Solve from DRKW to start the Risk Management Solutions business. Masroor started his career with Cooper Neff & Associates, market-making in derivatives on the LIFFE floor. He graduated from City University in 1992.

Masroor is Managing Director of P-Solve’s risk division and specialises in the design of tailored risk management solutions for the firm’s clients. He has expertise in the application and valuation of a wide range of derivative instruments. He has experience in the use of these instruments in structuring bespoke solutions for a variety of clients. He has worked in a wide range of fields designing and implementing investment solutions for pension schemes, insurance companies, retail product issuers and corporate clients.

Paul Kemmer, Head of Asset Solutions

Paul is responsible for running the Asset Management Division of P-Solve. This business currently manages £1.9 billion of assets for 40 clients under its fiduciary management service.

Following his MBA from the London Business School in 1991, Paul pursued a career in investment banking at Sociéte Générale and later Citibank, structuring and trading structured products for private banks and insurance companies. In 1998, Paul moved to the Lazard Group as an Executive Director where he specialised in Corporate Finance, advising corporates on hedgeable risks and the use of derivatives.

Steve Butler, MD of CAMRADATA

As Managing Director of CAMRADATA, Steve is responsible for technology innovation within the P-Solve Group. CAMRADATA is a market leader in data, analytics and client reporting in the pension industry working with 60 investment consulting firms and 350 pension funds across Europe.

He has 22 years experience in the pension industry working within life assurance, asset management and technology companies; including senior management positions with Scottish Widows, AXA and Royal Sun Alliance. However, over recent years, Steve has focused on leveraging his experience in product innovation and technology in the pensions market, establishing CAMRADATA in 2003, believing technology could be used to significantly streamline and innovate the pension industry. CAMRADATA was acquired by P-Solve in April 2008.

Ryan McGlothlin, Head of P-Solve US

Ryan is responsible for developing client investment and risk management strategies along with managing P-Solve’s US business. Prior to joining P-Solve in 2007, Ryan spent several years working for Barclays Capital in London where he focused on financial risk management for institutional investors such as defined benefit pension schemes and insurance companies. While there, he structured and executed over $20bn worth of derivatives-based investment and risk management transactions, many of which were on behalf of P-Solve clients. Ryan has over 13 years in the finance industry and began his career as an investment banker working on mergers & acquisitions and capital raising for energy companies. He currently serves on P-Solve’s US Investment Committee and Derivatives Policy Committee.

Ryan holds an MBA from the University of Chicago Booth School Of Business and a BA (Honors) from the University of Texas at Austin.

Ross Leach, Head of London Office

Ross Leach is the Head of P-Solve’s business operating out of London, UK and has been with P-Solve for over 5 years, and the Punter Southall Group for over 9 years.

He has a first class honours degree in Mathematics from University of Warwick and is a qualified actuary.

Ross has run a number of advisory and consulting businesses within P-Solve and has responsibility today for the quality and expansion of P-Solve’s “consulting-led” approach to investment across all its disciplines in the UK including advisory work, asset management, governance, technology and derivatives.

He has historically had a particular interest in developing explicitly liability driven investment strategies for pension schemes, aiming to achieve risk-controlled solutions without needing to allocate a large proportion of pension scheme assets to bonds. Ross’s recent projects have included the development of a multi-£billion collateral management platform and execution of a £3bn liability matching strategy.

Ross was named in Financial News’ “Rising Stars” in European Capital markets in 2008 and has been quoted in the financial press.

Elizabeth Weston, General Counsel

Elizabeth is P-Solve's General Counsel. She is responsible for supervising all legal activities across P-Solve’s businesses globally and for the review and evaluation of risk.

She started her career at Minter Ellison in Sydney, with a transactional focus on private equity and M&A.

Elizabeth has 11 years experience within the investment industry. She has successfully negotiated and executed asset allocation and derivatives mandates for premier pension schemes and distributed flagship products across Europe and Asia for leading global fund managers.

Elizabeth holds a Masters degree in Law and an Honours degree in Arts from the University of Sydney and an Executive MBA from the Columbia and London Business Schools.