One of the UK's more sophisticated pension schemes has switched investment consultant from well-established Mercer to relative newcomer Redington, following the departure of senior Mercer consultants Tim Gardener and Crispin Lace.

The Superannuation Arrangements of the University of London, better known as Saul - which had assets of £1.4bn as of 31 March 2010, the most recent date for which it has published figures, and almost 30,000 members - confirmed the switch.