People

Provider of The People’s Pension hires chief investment officer

Nico Aspinall was named chief investment officer at B&CE, provider of multiemployer plan The People's Pension, West Sussex, England.

The position is new and Mr. Aspinall started Monday, said a spokesman for the firm. B&CE is a not-for-profit organization founded in the construction industry. It launched The People's Pension in November 2011 to help employers comply with automatic-enrollment requirements.

He leads the investment management team to support the board and trustees in driving investment strategy during a period of expected rapid growth in assets. The People's Pensions has £2 billion ($2.6 billion) in assets. "This is likely to be £4 billion at the end of the year, which will provide us with more opportunities to improve the investment proposition," said the spokesman in an email.

"We are thrilled that (Mr. Aspinall) will be joining us," said Patrick Heath-Lay, CEO at B&CE, in a news release. "He brings with him impressive experience of creating and implementing investment strategies within the DC market, which will allow B&CE and The People's Pension to maximize the effectiveness of our assets and crucially, improve investment outcomes for the group and its members."

Mr. Aspinall launched his own consulting firm, Nico Aspinall Consulting, following his departure from Willis Towers Watson as head of U.K. defined contribution investment last year. "There will be a period of time where (Mr. Aspinall) may need to carry out some legacy work, however he will not take on any new clients following his appointment," said the spokesman.

Mr. Aspinall has also been working with the Principles for Responsible Investment on climate risk, which the spokesman added will continue.

Lydia Parker contributed to this story