Frank de Grave was named chairman of the cooperative board of PGGM, confirmed spokeswoman Diana Abrahams.
PGGM manages €93 billion ($124 billion) for Dutch pension fund clients including the €84.3 billion Pensioenfonds Zorg en Welzijn, Zeist, Netherlands.
Mr. de Grave replaces Hans Alders, who stepped down Jan. 1 as part of the split of PGGM into separate money manager and pension fund units. Mr. Alders continues to serve as chairman of PFZW.
In December, Mr. de Grave was appointed to be a board adviser to business management consultant Twynstra Gudde; it could not be learned whether he would continue in that role.