Pension Funds

BT Pension Scheme CEO to depart

Eileen Haughey will leave the BT Pension Scheme, London, where she has been CEO for five years, confirmed a spokeswoman for the fund.

The £49 billion ($67.9 billion) pension fund's trustees said in a statement Thursday that Ms. Haughey would depart following the conclusion of the current 2017 actuarial valuation. A specific date was not set.

Ms. Haughey joined in 2013 and has overseen a number of developments, including the implementation of a £16 billion longevity hedge.

The spokeswoman added that the trustee board will be searching for a replacement.

"The trustee board and I are very sorry that (Ms. Haughey) has decided to leave," said Paul Spencer, chairman of the trustee, in the statement. "We are pleased that we will benefit from her leadership until the conclusion of this valuation, which will enable us to ensure a smooth transition, following her departure."