PGGM’s managing director for responsible investment to depart

Marcel Jeucken, managing director for responsible investment at PGGM, is leaving Nov. 1.

Mr. Jeucken is resigned from PGGM — manager of the €185 billion ($221 billion) Pensioenfonds Zorg en Welzijn, Zeist, Netherlands — to become an independent responsible investment adviser, PGGM said in a news release. He joined PGGM in 2006 as head of the responsible investment team.

Frank Roeters van Lennep, chief investment officer for private markets at PGGM, will assume Mr. Jeucken's responsibilities temporarily. A spokesman was not available to comment about a permanent replacement.

"In the upcoming period, we will continue to call on (Mr. Jeucken) as an adviser for PGGM. In this capacity, he will also continue to hold administrative positions in networks that are important to us such as Eumedion and the Institutional Investors Group on Climate Change," said Eloy Lindeijer, CIO at PGGM, in the release.

PGGM has €205.8 billion in assets under management.