Noticeboard PEOPLE MOVES


Local government pen- sion pool Border to Coast is looking for a new chief investment officer. Daniel Booth has stepped down from


the role after more than three years to run a family office for an un-named individual. Booth (pictured) says that the chance to return to the day-to-day investment pro- cess attracted him to the new role. John Harrison will replace him on an interim basis until a permanent replace- ment has been found to manage the investments of the £34bn pension pool. This is the second time he has been asked to fulfill this role. His first stint was when Border to Coast launched and he has con- tinued to advise the pool since having joined its investment committee. Harrison has a strong track record in asset management having been UBS’ UK chief investment officer and holding the same role in an interim capacity for the British Airways Pension Fund. Meanwhile, another pension pool has strengthened its boardroom expertise by appointing three non-executive directors. Yvette Lloyd and Mark Laidlaw join the £44bn London CIV as independent non- executive directors, while Peter Mason,


NOTICEBOARD


Local government pension pool ACCESS will now be advised on illiquid invest- ments by MJ Hudson.


The investment adviser will work with the £35bn pool to build infrastructure, private equity, real estate and private debt portfolios. The capital will be pro- vided by some of its 11 partner funds from across Central, Eastern and South- ern shire councils.


A global distribution company has agreed a full buy-in with Just. The £345m deal


8 | portfolio institutional | February 2022 | issue 110


leader of London Borough of Ealing, joins as a shareholder-nominated non-exec. Lloyd, who is head of investment product structuring at BNY Mellon Investment Management EMEA, joins the pool’s investment oversight committee. Laidlaw, an actuary by trade, has held positions across the life, pensions and asset management industries for the past 30 years. His latest role was corporate strategy director at LV, for which he remains a trustee of its pension scheme. He becomes a member of London CIV’s Compliance Audit and Risk Committee. The Aon Master Trust has welcomed Jenny Davidson of BESTrus- tees


as a trustee director. Davidson (pictured)


worked in pensions for 40 years before becoming an independent trustee. She has master trust experience having moved several defined contribution schemes to such arrangements. She joins chair Roger Mattingly of Ross Trustees on the board where Jonathan Reynolds of Capital Cranfield and PTL’s Kim Nash also sit.


Independent trustee services specialist HS Sole Trustees has welcomed Jackie Rich- ards to its team.


Richards brings 40 years of pensions experience to the firm having worked


insures the benefits of the company’s almost 1,000 members. This is Just’s larg- est transaction to date and is the most deferred pensioner liabilities it has cov- ered in a single transaction. Pension Insurance Corporation (PIC) has signed a partial buy-in for a scheme spon- sored by engineer IMI. The deal covers £250m of liabilities for around 1,200 members, 95% of which are deferred. PIC has now insured £800m of liabilities for IMI across five partial buy-in transactions. PIC has also lent £129m to the developers


CALENDAR


Forthcoming portfolio institutional roundtables: February


– Fixed income March


– Sustainable bonds April


– ESG: A just transition May


– Emerging market debt June


– Private markets September


– Responsible investing October


– Defined contribution


November – 2023 outlook


across the banking, media and manufac- turing sectors. Rival firm Dalriada Trustees has also strengthened its team with the appoint- ment of Kate Lloyd as a professional trus- tee. She joins from Gateley, where she a partner advising trustee boards and cor- porate sponsors on legal issues. Finally, The Pension SuperFund has named Michael Clark as chief executive. He joins from Shell where he was global head of pensions.


of affordable student accommodation for the London School of Economics and Political Science.


The interest repayments are linked to inflation, with the loan maturing in 2069. The project will develop a 676-bed, 15-sto- rey residence in Southwark, London. It will include communal spaces, a gym, three roof terraces, a cinema and two courtyard gardens. More than a third of the rooms will be reserved for lower income students. PIC has now invested more than £2bn in the higher education sector.


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