Isio grows in size and expands with new Belfast office
The acquisition swells Isio’s workforce by 200 to more than 1,000 people across 10 UK office locations, making it one of the largest pensions advisory businesses in the UK.
The Deloitte business provided actuarial, pensions administration and investment services to some of the biggest organisations and pension plans across the UK.
The acquisition strengthens Isio’s core pensions advisory business capabilities in areas such as defined benefit consolidation and pensions transaction advisory services.
The enlarged Isio Group will have annual revenues of around £140 million and benefit from scale and greater depth and breadth of expertise.
It also expands its geographical footprint by adding a Belfast office with its team of 100 which will be led by Mark McClintock, now an Isio partner.
New colleagues will join existing Isio offices at sites including London, Glasgow, Edinburgh, Leeds, Manchester and Birmingham. The Belfast team will move into brand new office space in One Donegal Square South, in the centre of Belfast.
Andrew Coles, chief executive of Isio, said: “The completion of this acquisition enables us to properly welcome our new Isio colleagues and start leveraging our combined strengths to grow our business creating further opportunities for our clients and people.
“Isio has combined a strong financial performance with strategic execution since we launched in 2020, with backing from Exponent. With this acquisition and addition of our new Isio colleagues, we are now in a strong position to push on and challenge the status quo in pensions advisory.”
Isio celebrated its three year anniversary on 2 March 2023. Its annual results for the year to 30 September 2022, revealed a 33% growth in revenue to £101.5 million as well as increased profits.
