People moves: Essex scheme seeks investment adviser

first_imgATP — Christine Schmitz has been appointed as the leader of the new administrative body set to manage the Denmark’s senior pension – the new early-retirement disability pension introduced in January this year. Seniorpension, as the new organisation is to be called, will be a subsidiary of statutory pensions giant ATP, and will begin operating in January 2021, when ATP takes over responsibility for running the state benefit scheme nationally.Since its initiation at the beginning of this year, the scheme has so far been managed by local authorities around the country. The senior pension reform stems from a cross-party agreement in May 2019 and in its current form, the benefit allows those with 20-25 years of full-time employment, who cannot work more than 15 hours a week, to receive a pension up to six years before normal retirement age.Schmitz, who has been appointed as a deputy director of ATP, joins from Deloitte, where she was a partner responsible for tasks for the state and municipalities, especially in the area of employment. ATP said she would start work in the new role on 15 August.The Pension SuperFund (PSF) – The PSF, one of the two commercial defined benefit consolidation vehicles actively operating in the UK, has announced the composition of its asset and liability management (ALM) committee, which provides strategic and operational recommendations to the PSF’s joint investment committee.Joining managing partners Edmund Truell and Luke Webster on the ALM committee are some high-profile names:Chris Hitchen – chair of the PSF and of the Border to Coast local authority pension pool, non-executive director of NEST and former CEO of Railpen;Kari Stadigh – former president and CEO of Nordic insurance group Sampo and vice chair at Nokia. The PSF has reportedly received equity backing from Sampo;Wolf Becke – former CEO of Hannover Life Re and board member of Hannover Re Group. Current board mandates include chair Aegon Blue Square Re N.V, vice chair of FWU AG and senior independent director of Vitality Life. He is also a member of the PSF’s ‘committments’ committee;William Maltby – former vice chair of investment banking at Deutsche Bank and currently chair of NB Private Equity and Ekins Guinness;Martin Gilbert – chair of Aberdeen Standard Investments, co-founder and formerly CEO of Aberdeen Asset Management. Former chair of the Practitioner Panel at the Prudential Regulatory Authority; andIan Edward – former investment banker and serial entrepreneur and private equity investor across a variety of sectors including financial services, food & leisure. Currently non-executive director of Pizza Pilgrims and co-founder of Hippo Inns. Essex Pension Fund, ATP, The Pensions SuperFund, Lothian Pension Fund, Falkirk Council Pension Fund, Fife Council Pension FundEssex Pension Fund – The scheme is seeking to appoint an independent investment adviser to advise its investment steering committee (ISC). It is intended that the appointment should be effective from November 2020. The appointment will be for an initial period of three years – with an option for the fund to extend it for a further period on the same terms and conditions.The fund is growing towards a value of £7.5bn (€8.2bn). Details of the strategic asset allocation and investment structure, including details of all current mandates, are set out in the scheme’s investment strategy statement (ISS). The draft ISS is currently out for stakeholder consultation and can be found here.Candidates wishing to express interest in this position should contact Samantha Andrews, the scheme’s investment manager by Friday 18 September 2020 at 5pm UK time via email. Lothian, Falkirk and Fife pension funds – The three Scottish local government pension scheme (LGPS) funds’ joint investment strategy panel (JISP) has appointed three independent advisers. Scott Jamieson has been reappointed and Kirstie MacGillivray and Stan Pearson will take up the position for the first time. The panel used to have two independent advisers – Jamieson and Gordon Bagott.The JISP comprises senior officers as well as the independent external investment advisers, who rotate after an initial term of three years. It advises the three pension fund administering authorities on implementation of their respective investment strategies, although these are agreed by the pensions committee of each pension fund and the assets of Lothian Pension Fund, Falkirk Council Pension Fund and Fife Council Pension Fund remain separate. Between them they have some £14bn (€15.3bn) in assets under management.Elaine Muir, head of finance for Fife Council and chair of the JISP, said: “We were impressed by the caliber of candidates we met during the selection process and in Kirstie, Stan and Scott we have an ideal blend of skills and experience to cover our needs for macro, equities and governance fields.”last_img

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