Sue Applegarth was appointed CEO of SAUL Trustee Co., the trustee and administrator of the Superannuation Arrangements of the University of London, said Penny Green, outgoing CEO.
Ms. Applegarth will join in November. There will be a six-week to two-month transition period, Ms. Green wrote in an e-mailed comment.
Ms. Green has been CEO of the £1.9 billion ($3.2 billion) pension fund since 1998 and announced in November she would retire by the end of this year. She said after taking a break, she hopes to take on trusteeship, investment committee and non-executive director positions for various boards.
Ms. Applegarth is chairwoman at Ensign Pensions Administration.
A spokeswoman for JLT Employee Benefits, which announced its acquisition of Ensign Pensions Administration from the Merchant Navy Officers Pension Fund in March, could not be reached for comment by press time.
One source in the pensions industry said the appointment makes sense for the development of SAUL’s administration company, STC Pension Management, given Ms. Applegarth’s background in third-party administration.