People moves: UK’s Railpen picks sustainable ownership head

first_imgSince 2017 Escott has been senior policy lead on investment and stewardship at the Pensions and Lifetime Savings Association (PLSA), where she led its investment, ESG and corporate governance policy and engagement work. Prior to this, she was a senior policy adviser at the Association of Professional Financial Advisers (APFA).Gosvig said: “At Railpen, we are guided by the investment belief that environmental, social and governance (ESG) factors materially impact long-term investment returns and must be taken into account. These appointments further support our commitment to this approach.”Alecta — Sweden’s biggest pension fund Alecta announced its general counsel Charlotte Rydin is leaving the firm. The SEK960bn (€92bn) pension fund said she is taking up a new role at Swedbank, as its general counsel, and is therefore also stepping down as Alecta’s representative on the Swedbank nomination committee, a group comprising of the bank’s largest shareholders.Prior to working for Alecta, Rydin worked for the Swedish financial supervisory authority Finansinspektion (FI), also as general counsel. She also previously held the sale role for at the Swedish National Debt Office since 2006. Alecta said Rydin is set to leave the pension fund later this year.CPP Investments – Guillaume Pepy has been appointed senior adviser, Europe, to support Canada Pension Plan Investment Board’s C$63.4bn (€40.8bn) Europe investment portfolio and deal origination efforts across the region.Pepy was most recently chairman and CEO of French national railway company SNCF.He currently serves on the boards of Lagardère and BlaBlaCar, and on the advisory board of He was recently appointed as President of France Initiative, the largest network of financing and mentoring of business founders in France.“Guillaume’s deep expertise, understanding and network across the private and public sectors in France brings great value to our investment strategy in the region,” said Alain Carrier, senior managing director and head of international, CPP Investments.Folketrygdfondet – Tørres Trovik has been appointed by the Norwegian finance ministry as a new member of the board of Folketrygdfondet. Folketrygdfondet is the manager of the Government Pension Fund Norway, the domestic and Nordic part of the country’s overall sovereign wealth fund – the larger segment of which is the NOK10.4tn (€973bn) Government Pension Fund Global.Trovik – an investment consultant and former CIO of Norwegian financial group Storebrand – has been appointed to the Folketrygdfondet board for the next three years. He replaces Hans Aasnæs who resigned from Folketrygdfondet’s board at the turn of the year when he was appointed as an executive board member at the central bank Norges Bank.Trovik currently works for municipal pension provider KLP as a senior adviser and developer, and is a member of the advisory committee of the International Forum of Sovereign Wealth Funds, according to his LinkedIn profile.Universities Superannuation Scheme (USS) – The UK’s largest funded defined benefit is appointing the former CEO of Church Commissioners for England as a non-executive director.Andrew Brown was nominated by trade union University and College Union (UCU) and will formally join USS’s trustee board on 1 August 2020. His appointment will take the board to 12 directors.He fills a vacancy created by USS in October removing Jane Hutton from the trustee board following an external investigation that USS said identified breaches of her duties as a director under company law and contract.Brown spent 26 years with Church Commissioners for England, first as chief surveyor and then secretary (CEO), before retiring in January 2020. Sir David Eastwood, chair of USS’s trustee board, said: “Andrew’s extensive experience will strengthen a trustee board resolutely focused on its responsibilities to its members, as both an investor and a pensions provider.”Brown said: “USS is one of this country’s most significant investors and to join at this time with the recent developments in their responsible investment policies is very exciting.”Separately, Sir Andrew Cubie has retired as chair of USS’s Joint Negotiating Committee (JNC). He will be succeeded by Judith Fish of Dalriada Trustees Limited, an accredited professional trustee and fellow of the Institute and Faculty of Actuaries who has more than 25 years of experience working in pensions as a scheme actuary, corporate adviser, employer and as a trustee.Sir Andrew informed the JNC in October of his intention to retire. The JNC is a key governance body for USS. It is made up of an equal number of UCU and Universities UK representatives. An independent chair is appointed by the committee itself.Finnish Centre for Pensions/Keva – Karoliina Kiuru has been appointed by the Finnish Centre for Pensions (ETK), the central body of Finland’s statutory earnings-related pension system, as its new director of legal affairs and member of its management group. Kiuru is set to start her new job at the beginning of August, joining the organisation from her current role as director of legal affairs at Finnish public sector pension fund Keva – a position she has held since June 2015. The Finnish Centre for Pensions said Kiuru had previously participated in several legal reform projects in the earnings-related pension sector.Aegon Asset Management – Anne Coupe has been hired for the newly created position of global head of consultant relations and global financial institutions. She was most recently at BMO Global Asset Management, where she was managing director, head of global consultant relations, having performed similar roles at UBS Asset Management and Deutsche Asset Management. She has also worked as an investment consultant at both Mercer and Callan Associates.Her appointment follows that of Russ Morrison, who joined the asset manager last week as global CIO, fixed income. Aegon said Coupe’s and Morrison’s join the firm “as it begins the next step in its development into a truly global asset management business following its successful integration of its Asian, European and US divisions”.Bank of New York Mellon Investment Management –  Hanneke Smits had been appointed as chief executive officer, replacing Mitchell Harris, following his intention to retire effective 1 October. Smits, who will report to Todd Gibbons, CEO of The Bank of New York Mellon Corporation, will join BNY Mellon’s executive committee.Smits has been CEO of Newton Investment Management, a subsidiary of The Bank of New York Mellon Corporation, since August 2016. Her career spans close to three decades in financial services, including serving as a member of the executive committee at private equity firm Adams Street Partners from 2001 to 2014, and chief investment officer from 2008 to 2014.Smits will continue as CEO of Newton until 1 October and a search is currently underway to replace her at the firm. Over the next several months, Harris will work closely with Smits to ensure a smooth transition of leadership.Smits, a non-executive director to the Court of the Bank of England since 1 June 2019, has resigned from this post with effect from 30 September.  Aon – Erik Skoog and Allan Karlsen have been promoted at consultancy Aon to the roles of interim co-chief executive officers of the firm’s business in Sweden, Denmark, Norway and Finland, following the resignation of Jacob Schlawitz, who has been Aon’s Nordic CEO since 2013. Schlawitz has “chosen to pursue an opportunity outside of the firm,” the consultancy said.Up to now, Skoog has been CFO, Nordics, and Karlsen has been CEO for Aon Denmark and COO for the Nordics, Aon said. Skoog joined Aon in February 2016 as CFO for the Nordic region, and before that, he worked at Nordea in several senior leadership roles within group finance and retail banking. Karlsen has been at Aon for five years in the role he has held up to now. He was previously regional CEO at Genworth Financial, which was bought by AXA in 2015.Voya Investment Management – The asset management business of Voya Financial, Inc. has hired Tom Frost as head of EMEA insurance and pension solutions, a new role. Based in London, Frost reports to Charlie Shaffer, head of distribution and John Simone, head of insurance solutions.Before joining Voya, Frost was head of business development, EMEA for Interitus Advisory, a private equity firm in London. He has also been head of business development for Caxton, a multi-strategy hedge fund in London, and managing director and head of UK insurance and pensions for Credit Suisse from 2008 to 2016. During this time he worked closely with Shaffer in his role as global head of distribution for Credit Suisse Asset Management. “Investment Management has delivered back to back record years in asset raising – establishing a reputation across Europe and Asia for delivering hard to manufacture, differentiating solutions in fixed income and credit to institutional investors,” said Shaffer.Edelman UK – Former member of parliament and shadow business secretary Chuka Umunna has been hired by the communications firm as executive director and head of its environmental, social, governance (ESG) consultancy offer.Part of Edelman’s specialist capital markets and financial services team, Smithfield, Chuka will lead a team advising business leaders on ESG audit, embedding ESG factors into decision making, strategy and culture and managing ESG issues relating to corporate transactions.Umunna served in the UK parliament from 2010-2019, including as shadow business secretary for several years and in other senior posts leading on economic, business, trade and foreign policy issues on the opposition benches. During this time he became a leading advocate of the stakeholder capitalism agenda, campaigning for more diversity in the boardroom.Hugh Taggart, general manager for Edelman UK, said: “If we have learnt anything about business during the pandemic, it’s that they will undoubtedly be held to higher ethical standards. Anyone – including companies in the private sector – with the resources to help solve the problems society faces, will be expected to make a contribution.”Unigestion – Paul Jeffries has been hired from Robeco as director, institutional clients, to focus on the UK and Irish institutional markets. At Robeco he spent three years advising UK and Ireland-based institutional investors and their investment consultants. Prior to this, he held similar roles at AQR Capital Management and the Permal Group. Jeffries has also worked in investment management with Railpen Investments and RMB MultiManagers.Artemis Investment Management – Elaine Gordon has retired after 15 years with the firm as head of its institutional business. Victoria Heffer has succeeded her. Heffer joined Artemis and Gordon’s team from Capital Group in 2009 and has been responsible for Artemis’ relationships with institutional clients and consultants.Aegon Asset Management – The Dutch asset manager has promoted Miranda Beacham to senior responsible investment manager and recruited Retno Kusumaningtyas and Georgina Laird as senior responsible investment associate and sustainable investment analyst, respectively.In her new role Beacham will lead Aegon Asset Management’s Edinburgh-based responsible investment specialists. She has worked at Kames Capital, soon to become Aegon Asset Management, since 1995 and co-founded the UK responsible investment team.Kusumaningtyas has joined from an Amsterdam-based consultancy firm, Profundo Research and Advice, and will work on ESG and impact research for Aegon’s fixed income investment platform and support its new ESG partnership with ABN AMRO.Laird will be responsible for monitoring and analysing ESG factors within the company’s global sustainable equity strategy. She joins from Uniting Ethical Investors in Australia, where she was ethics and impact manager. Before moving to Australia, Laird was part of Kames Capital’s ESG research team from 2017.Muzinich & Co. – Andrew Tan has been named head of Asia Pacific for private debt in Singapore to lead the development of the Asia Pacific Platform. He is joined by Denis Rayel in Sydney who will support and lead the development of the firm’s private debt capability in Australia and New Zealand. RPMI Railpen, Alecta, CPP Investments, Folketrygdfondet, USS, Keva, Aegon AM, BNY Mellon IM, Aon, Voya, Edelman, Unigestion, Artemis, MuzinichRPMI Railpen (Railpen) – The firm, which manages approximately £30bn (€33.2bn) of assets on behalf of the UK’s railway pension schemes, has appointed Michael Marshall as head of sustainable ownership with effect from September. He will report to Mads Gosvig, chief fiduciary officer, investments.Marshall’s team lead on how sustainability considerations are included in the investment process at Railpen. He joins from LGPS Central, where he had been director of responsible investment and engagement. He has previously held roles at West Midlands Pension Fund, Trucost and EIRIS, specialising in responsible investment. He will take over from Leo George, who will stay with Railpen until the end of 2020, to ensure a smooth transition.The sustainable ownership team will be boosted further through the appointment of Caroline Escott as senior investment manager, leading Railpen’s active ownership work. She will join in September and will oversee engagement with the companies in which Railpen invests and, where appropriate, exercises its voting rights to have a positive influence and support member outcomes.last_img

Leave a Reply

Your email address will not be published. Required fields are marked *