Troy Clutterbuck has been appointed managing director of the £3.9bn Cushon Master Trust following its acquisition by WTW earlier this year.
He has worked at the defined contribution (DC) master trust since 2020, helping it scale up and playing a key role in its acquisitions by NatWest and subsequently WTW.
Prior to Cushon, Clutterbuck was chief executive officer of Now Pensions, where he led the master trust through its sale to Cardano. He has also worked at JLT, HSBC, and KPMG.
WTW’s acquisition of Cushon from NatWest was signed off by the Financial Conduct Authority earlier this month, having first been announced in December.
WTW – which also owns the LifeSight master trust – has emphasised that the two master trusts will operate independently, with Cushon focusing on “middle market” employers and LifeSight working with large companies.
As part of the deal, WTW and NatWest have agreed a “referral arrangement”, which will allow commercial banking customers at NatWest to have access to the master trust and its related savings services.
Clutterbuck takes over from Ben Pollard, founder of Cushon, who is stepping into a strategic adviser role.
Clutterbuck said: “I’m incredibly excited for Cushon to now be part of WTW and the opportunities this creates for our customers, clients and colleagues. My focus will be on building on the strong foundation, continuing to drive growth, enhancing our proposition and delivering better financial outcomes for our customers, while making the most of everything WTW has to offer.”
Julie Gebauer, president for health, wealth and career at WTW, said: “I look forward to working with Troy and the team as we build on Cushon’s momentum. I want to thank Ben for his partnership and vision in building Cushon, and I am so pleased he will continue as a strategic adviser.”
