Johan van der Ende will step down as chief investment officer of PGGM Investments on Nov. 1 because of disagreements with other senior managers at the money management firm, confirmed spokesman David Uitdenbogaard.
Mr. Van der Ende’s departure “has nothing to do with any investment policy or investment results,” Mr. Uitdenbogaard said.
PGGM manages assets of the €80 billion ($110 billion) Pensioenfonds Zorg en Welzijn, Zeist, Netherlands.
Jac Kragt, chief finance and risk officer, will serve as interim CIO while a search for Mr. Van der Ende’s permanent replacement is conducted.
Disagreements among PGGM’s six-member executive committee, formed in January, led to Mr. Van der Ende’s departure, according to a PGGM news release. Mr. Uitdenbogaard declined to provide additional details.
“Taking the financial crisis into account, PGGM has achieved good investment results under Johan’s leadership, and he has made a vital contribution to the expansion and professionalization of PGGM Investments,” PGGM CEO Martin van Rijn said in the release.
Attempts to reach Mr. Van der Ende were unsuccessful.