Penny Green will retire as CEO of the Superannuation Arrangements of the University of London by the end of 2014, Ms. Green confirmed.
Ms. Green said an exact date has not been determined as it will depend on when a successor is hired and the board's need for a transition period. A search process is expected to start in early 2014, she added.
Ms. Green has served as CEO of the £2 billion ($3.2 billion) pension fund since February 1998. After retirement, she plans to stay involved with third-party administration company STC Pension Management, where she is managing director. STC draws on the resources and experience of SAUL.