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MBWL International announces extension of Joint Venture to include Normandin Beaudry

  • New partnership extends MBWL global reach to Canadian pensions and benefits market.

  • Normandin Beaudry brings over three decades of independent pensions and total rewards consultancy expertise.

  • Normandin Beaudry joins existing Joint Venture partners Barnett Waddingham, Milliman, and Lurse.


London, UK – 25th October 2023: MBWL International (MBWL), an international joint venture between Barnett Waddingham, Milliman, and Lurse, today announces that Normandin Beaudry has joined as a fourth equal Joint Venture (JV) partner to strengthen MBWL’s global pensions, benefits and M&A services.

Founded in 1992, Normandin Beaudry is a distinguished Canadian-based independent actuarial and total rewards consultancy privately owned exclusively by its professionals. With a workforce of over 350 employees, it is a global leader that provides services across Canada in eight areas of expertise: Group Benefits, Pension and Savings, Pension Plan Administration, Investment Consulting, Compensation, Health, Performance, and Communication.

Normandin Beaudry has been a strategic partner of MBWL’s for many years, and the new JV will formalise and strengthen their relationship. Normandin Beaudry joins MBWL as an equal partner firm and extends the reach of MBWL by adding another key Employee Benefits and Defined Benefit (DB) pensions market to its global coverage. With the addition of Normandin Beaudry’s expertise and resources, MBWL also enhances its commitment to its core pensions business and growing benefits services for multinational clients. Normandin Beaudry shares MBWL’s dedication to excellence, while aligning with its cultural goals of prioritising independence, quality and consistently delivering exceptional value to its clients.

The addition of Normandin Beaudry in Canada is a natural strategic move that will enhance the JV’s ability to deliver services to global companies with cross-border requirements, and compliments MBWL’s already strong, multinational presence across the UK, US, Germany, and over 30 other countries worldwide.

Andrew Vaughan, Senior Partner at Barnett Waddingham says: “At Barnett Waddingham, we are committed to driving forward a consistent high quality service to our clients, while embracing a culture of excellence. Normandin Beaudry were therefore an obvious fit for MBWL, with their strategic values closely aligning to that of our own, as well as Milliman and Lurse. We’re delighted to be taking our partnership to the next level, and cross-pollinating our expertise to drive innovation of our service-offering.”

John-Paul Augeri, Managing Director and Global EB Consulting Leader at Milliman says: “Having worked closely with the exceptional team at Normandin Beaudry for several years now, it’s incredibly exciting to now formalise our partnership and add them as an equal partner in MBWL. Their values fully align with ours – independence, thought leadership, and absolute client focus.  We can only look forward to collaborating with Normandin Beaudry’s team of experts even more closely to continue our commitment to growth and excellent service for our clients globally.”

Matthias Edelmann, Managing Partner at Lurse says: “With Normandin Beaudry as our Joint Venture partner, we strengthen our global footprint and enhance our ability to provide comprehensive solutions to our clients worldwide. We look forward to welcoming Normandin Beaudry as a Joint Venture partner, and understanding how our penetration and expertise in the German market and worldwide can help complement the services it provides to Canadian multinational clients.”

Normandin Beaudry’s President Éric Montminy comments: “On behalf of the Normandin Beaudry team, we are thrilled to join MBWL as an equal and independent JV partner. We look forward to continuing to work closely with our international partners to expand the service offerings and total rewards expertise that we provide to organizations in Canada while now offering structured international support across the globe.”

About MBWL International

MBWL International are independent global experts who provide innovative, strategic retirement and benefits consulting for multinationals of all sizes, everywhere they do business. The joint venture between Milliman, Barnett Waddingham, Lurse and now Normandin Beaudry brings together the experience and resources of these four market-leading businesses, comprising over 8,000 employees across more than 30 countries. With expertise in strategy, governance, actuarial and benefits consulting, M&A, administration, and employee engagement, MBWL provides seamless, consistent advice across organizations with a single point of accountability. No red tape, just results.