An employee at the U.K.'s Pension Protection Fund, London, has become the first person outside the U.S. to be granted chartered status by the Investment Management Due Diligence Association.
The credential was awarded in September to Kevin Eastwood, operational due diligence manager at the £23.4 billion ($30.4 billion) pension fund, which is the lifeboat for the defined benefit funds of insolvent companies.
The association is the American professional body for individuals and firms that are tasked with due diligence in the money management industry. It is awarded to those who prove their expertise and continued commitment to the sector.
“The charter is a very exclusive and highly coveted award,” Mr. Eastwood said. “It is the pre-eminent accolade for operational due diligence specialists, and companies around the world acknowledge the (chartered due diligence analyst) certification as the gold standard in due diligence.”
He added that gaining his status “demonstrated the importance the Pension Protection Fund places on operational due diligence, as an organization with over £23 billion in invested assets, ensuring that members of defined benefit pension schemes in the U.K. can have confidence that their finacnial future is protected.”