- VEDRA Pensions benefits from the increased demand for externalisation of pension obligations
- Siegbert Weissbrodt contributes experience as long-standing Head of Human Resources at the DEKA Group
Monheim am Rhein, the 21.11.2023
VEDRA Pensions ("VEDRA"), the pioneer for the acquisition of defined benefit pension commitments in Germany, continues to expand. Mr Siegbert Weissbrodt has joined the Advisory Board of the VEDRA Group with effect from 1 November 2023. At the same time, Mr Weissbrodt will join the Board of Betriebsrenten Treuhand e.V., which acts as the Group's CTA, as a trustee. This inter-company trust company provides additional security in the context of outsourcing pension obligations.
Mr Weissbrodt has many years of management experience from various positions in cross-industry companies. Most recently, he was Head of Human Resources at the DEKA Group in Frankfurt am Main. As a certified mediator, he has extensive experience in negotiations between management and works councils. At DEKA, he was particularly responsible for company pension issues, including the management of internal schemes to cover pension liabilities.
Prior to joining the DEKA Group, Mr Weissbrodt was Head of Human Resources at NordLB. In this role, he was, among other things, trustee of the bank's UK pension schemes. Mr Weissbrodt has relevant industry experience in addition to his knowledge of financial services.
"I am looking forward to this exciting role at VEDRA, as the company has a proven track record in pension buy-outs in Germany. I see great potential for companies here, both from the perspective of de-risking old pension plans, but also from a balance sheet structure point of view. The development of the pension buy-out market in the UK shows the interest and need of companies for such solutions," commented Siegbert Weissbrodt.
Pierre de Weck, Chairman of VEDRA's Advisory Board, commented: "We are proud to have gained such a renowned figure as Mr Weissbrodt as a member of our Advisory Board. With his experience from a human resources perspective, Siegbert Weissbrodt is an ideal addition to our organisation."
"Organisations interested in a pension buy-out benefit from VEDRA's holistic approach. With the addition of Mr Weissbrodt, we are now in a better position to address the needs and questions of all key stakeholders," adds Michael Christner, Co-Managing Partner of the VEDRA Group.
About VEDRA Pensions
VEDRA Pensions is a German holding company specialising in innovative and pragmatic solutions related to pension buy-outs. Since its inception in 2016, VEDRA has pioneered the German market in freeing companies from the four risks associated with pension liabilities: Inflation, longevity, interest rate risk and market risk. The VEDRA model achieves a complete economic and legal release of the company from the liability, combined with the derecognition of the obligations from the balance sheet. For the pensioners concerned, this in turn means that their obligations are fully funded. VEDRA currently serves several thousand beneficiaries and has already made pension payments totalling around EUR 50 million.