Noticeboard PEOPLE MOVES


B&CE, provider of The People’s Pension, has strengthened its expertise as a sus- tainable investor through recruiting Leanne Clements as head of responsible investment.


Clements joins the pension provider for one in five British workers from the Car- bon Tracker Initiative, a think tank, where she was head of stewardship for the UK and EU. She has also worked in responsi- ble investment at several pension schemes and was once the campaign manager for the Association of Member Nominated Trustees. In her new role, Clements will develop B&CE’s approach to building responsible portfolios through its management and stewardship of members assets. The People’s Pension has also strength- ened the investment experience of its board. The pension provider which man- ages £17bn worth of assets has welcomed Emma Osborne as a trustee. Osborne’s background is in institutional investment where she has Credit Suisse Asset Management on her CV along with


NOTICEBOARD


The trustees of the retirement scheme for workers of digital marketer Yell have com- pleted a full-scheme buy-in. The final £370m of the scheme’s liabili- ties were passed to Pension Insurance Corporation (PIC) in what is the second such deal between the two parties. This latest deal means that PIC has insured all of the scheme’s £570m liabilities for its 1,800 members.


Also completing a full-scheme buy-in are the trustees of the pension scheme spon- sored by industrialist Barloworld. It has de-risked the benefits of around 3,000 pensioners and 1,800 deferred members in a £484m buy-in with Just. Health and beauty retailer Boots has com- pletely de-risked its Supplementary Pen-


8 | portfolio institutional | October 2022 | Issue 117


US insurer Chubb, where she was chief investment officer.


Osborne has also been chair of Chubb’s UK final salary scheme and sits on the board of three Church of England schemes. She has been a director of insurance com- panies and a micro-finance lender. South Yorkshire Pensions Authority, which manages £10.5bn worth of assets for local government workers in the region, has appointed Trevor Castledine as an investment adviser. Castledine replaces Leslie Robb, whose 10-year term has expired. He will work alongside the Authority’s other adviser, Aoifinn Devitt, to develop the pension fund’s investment strategy and oversee the managers responsible for delivering it. Anna Lees-Jones has joined Capital Cran- field as a professional trustee. Lees-Jones brings more than a decade of experience to the professional trustee specialist hav- ing started her career as a credit fund manager. Finally, 2020 Trustees has appointed Vanessa Roberts as associate director. Roberts joins from Nationwide Building Society.


sion Plan after agreeing a deal with Legal & General.


The £50m buy-in secures the benefits of more than 110 former and current work- ers for the high-street retailer. Legal & General has also invested £200m in building more than 700 homes in Car- diff. The rental apartments are to be built at the former Brains Brewery site in the centre of the city. The insurer’s real asset portfolio has now invested £1bn in Cardiff. Also investing in expanding the UK’s housing stock is Aviva. The insurer has invested £72.5m in Macclesfield-based social housing landlord Peaks & Plains, which manages 5,000 affordable homes in Cheshire and Derbyshire. Aviva has also invested £110m in develop- ing the UK’s electric vehicle charging


CALENDAR


Topics for confirmed upcoming portfolio institutional roundtables:


November – Infrastructure


December – Biodiversity January


– Fixed income


February – Real estate March


– Defined contribution April


– Stewardship May


– Private markets


June – Emerging markets July


– Social impact investing


September – Diversity October


– Sustainable strategies


infrastructure.


The investment in


Connected Kerb will fund the develop- ment of 19,000 on-street chargers by 2030.


The London Borough of Bexley Pension Fund has appointed Redington as its investment consultant. The firm will help the £1bn scheme develop its approach to responsible investment and stewardship. Finally, IT specialist Unisys has appointed Cardano as the fiduciary manager for three of its retirement schemes. The firm will manage portfolios and pro- vide investment advice, particularly on sustainable investing and risk manage- ment, concerning the £1.2bn of assets owned by the Unisys Pension Scheme, Unisys Payment Services Pension Scheme and Unisys Public Sector Pen- sion Scheme.


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