Noticeboard PEOPLE MOVES


The West Yorkshire Pension Fund has appointed Euan Miller as its managing director following Rodney Barton’s deci- sion to retire after 12 years at the fund’s helm. Miller crossed the Pennines to join from Greater Manchester Pension Fund, where he was assistant director of pensions, funding and business development. He has advised defined benefit scheme trus- tees and sponsors in his capacity as a con- sulting actuary, a position he held before joining the Greater Manchester fund. SEI has appointed Natalie Winterfrost as a trustee director of its master trusts. Winterfrost works for Law Debenture, which has been added to the board of SEI Trustees, which oversees the two master trusts.


A financial analyst by training, she has a 25-year track record of investment con- sulting and asset management experi- ence.


During this time, Winterfrost


helped large pension schemes integrate ESG into their processes and comply with the Task Force on Climate-related Finan- cial Disclosures (TCFD). Ross Trustees has strengthened its offer- ing with the arrival of three new faces to its team.


NOTICEBOARD


Final salary scheme liability insurance specialist Pension Insurance Corporation (PIC) has forward funded what is set to be, at 154 meters, the tallest built-to-rent tower outside of London.


The insurer has invested £200m in One Eastside, which when constructed by Court Collaboration will offer 667 apart- ments for rent across two towers in cen- tral Birmingham. The property, which is PIC’s fourth built- to-rent asset, is being constructed on brownfield land will create hundreds of jobs.


Vikram Chatrath, Sam Waterman and Dominic Thurlow have joined the inde- pendent


trustee specialist from Axa’s


in-house pensions team. They collectively bring almost 25 years of experience to the firm and will work with schemes on fund- ing issues as well as strategy and planning.


Chatrath was head of finance and pen- sions strategy for Axa for seven years, hav- ing previously worked for Mercer, and has implemented three of the largest swaps in the UK pensions market. Waterman will provide investment and liability strategy support to pensions schemes with a focus on risk manage- ment. The qualified actuary designed and built Axa UK’s scheme liability and cash- flow matching strategy model. Meanwhile, Thurlow will provide support and technical expertise on funding, asset- liability modelling and investment monitoring. The Pensions and Lifetime Savings Asso- ciation (PLSA) has appointed new chairs to two of its policy committees. Neil Mason, who leads the £5bn Surrey Pension Fund, has been appointed to head the Local Authority Committee (read more on pages 12-15). He


succeeds West Midlands Pension Fund director Rachel Brothwood, who


PIC is also set to welcome the first retire- ment community into its portfolio. In partnership with Octopus Real Estate, it has formed a joint venture with Elysian Residences to develop a nine-acre site, which has planning permission for 124 residencies.


The retirement scheme for workers of TT Electronics, which provides technol- ogy for the aerospace, defence and healthcare markets, has secured the benefits of 5,000 retirees and deferred members. The trustee has agreed a £400m buy-in for the TT Group (1993) Pension Scheme with Legal & General.


8 | portfolio institutional | December-January 2023 | Issue 119 CALENDAR


Topics for confirmed upcoming portfolio institutional roundtables: February – Real estate March – Emerging markets April – Defined contribution May – Stewardship June – Biodiversity July – Private markets September – Fixed income October – Sustainable strategies


remains on the PLSA Policy Board. Finally, Robert Orr replaces John Chilman as chair of the Defined Benefit Committee.


Orr has more than 20 years of industry experience and is currently head of tech- nical and communications for the pen- sion scheme serving non-academic staff at the University of London.


Zedra has continued its acquisition spree in the UK after it bought two professional trustee providers. It increased its share of the British pen- sion services market though buying AAA Trustee and Trustee Matters. The terms of these deals have not been disclosed. Zedra’s acquisition strategy in the UK started in 2021 when it welcomed Inside Pensions and PTL to its offering, before Caledonian Trustees and Clear Pen Solu- tions joined the following year. The latest acquisitions bring a senior leadership team with more than 100 years’ experience and 70 professionals to its business.


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