Formosa, who is from Malta, comes to the company from Blevins Franks’ Malta offices, and will oversee the specialist international pension provider’s operational functions, such as new business processing and on-going client servicing.
Momentum group chief executive Mark Gaywood said Formosa had experience in the pension sector, which he said would be helpful as the company sought to expand its range of pension and QROPS products and services. Currently Momentum has two QROP schemes on HM Revenue & Customs’ list, one in Malta and one in the Isle of Man, which it launched in January.
Also in January, Momentum introduced a “lite” charging structure on both its QROP schemes, for clients with pension funds of less than £100,000, which it said would complement its Plus and Pro QROPS products.
