Saker Nusseibeh was appointed as head of investments at Hermes Fund Managers, which manages the £29.3 billion ($48.2 billion) BT Pension Scheme, London, according to a company spokesman. The position is new.
Mr. Nusseibeh will have some CIO responsibilities that formerly were handled by CIO Roger Gray, who left the company. Mr. Nusseibeh also will work on new investment capabilities that could involve acquiring “new teams and businesses,” according to the spokesman.
No further information could be learned about Mr. Gray's departure; he could not be reached for comment.
Mr. Nusseibeh was formerly global head of equities and CIO of global equities at Fortis Investments. Fortis spokeswoman Sarah Marteleur could not be reached for information about Mr. Nusseibeh’s replacement there.
For the year ended March 31, the BT fund was down 21.7% from £37.4 billion a year earlier, according to the latest financial report from parent company BT.
