David Fogarty

David Fogarty

David is a Director of Dalriada Trustees Limited based in London. He is an experienced Accredited Professional Trustee and pensions actuary, whose focus over recent years has been on investment strategy and risk management.

David is currently trustee to a c£1bn DC scheme with a DB underpin and a c£100m DB scheme which is part of a number of group schemes currently going through consolidation. He also acts as ‘investment’ expert for a number of other Dalriada clients.

Before joining Dalriada, David spent over 30 years at Mercer in a range of actuarial and investment roles, including leading the combined actuarial and investment business from 2017 to 2019. His advice covered some of the most complex areas, often when the techniques were relatively untried, including long-term strategic planning, asset allocation, dynamic de-risking, liability hedging with swaps and then gilt repo, longevity swaps, equity protection, member options and buy-ins/outs, as well as governance and communications.

A material portion of David’s advisory work has been in the corporate space, so he understands corporate motivations and challenges as well as being fully versed in corporate pension accounting issues. He also has experience working on non-UK pension arrangements (DB and DC) and working with sponsors whose HQ is outside of the UK.

David is a strong advocate for collaboration and instigating Joint Working Groups as a means of making swifter joined up progress on strategic issues. While technically strong, David’s great strength is his ability to discuss with decision makers the appropriateness of particular approaches in a non-technical way, drawing out the key virtues of a proposal and ensuring that any challenges are well understood. This means he can both drive solutions and challenge them.

In his role as a Professional Trustee, David is a passionate believer that trustee decisions need to be active, based on a full understanding of the approach, rather than on adviser recommendations that are approved without deliberation and challenge.

David’s passions away from work are his family, his Tibetan Terrier and his golf.


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