Pension Funds

Board to Coast Pensions looking for head of external investments

Border to Coast Pensions Partnership, Leeds, England, is searching for a head of external investments, according to Rachel Elwell, CEO of the £43 billion ($55.9 billion) pool of local authority pension funds.

The selected executive will oversee appointment and monitoring of external investment service providers, including money managers, transition managers, advisers and securities-lending arrangements.

The head of external investments will work with the chief investment officer to identify and develop new capabilities and with the head of alternatives to identify and assess opportunities in private markets.

Border to Coast created in-house equity funds for members of the pool and is developing capabilities to externally manage assets that could start in the next two years, the notice said.

The role is currently held by Graham Long, interim head of external investments. "The process will run over the next few months. Graham (Long) was appointed as interim on a six-to-12-month contract and it was always our intention to undertake a full recruitment process for the permanent role toward the end of the six-month period." Ms. Elwell declined to comment if Mr. Long is likely to remain in the role on a permanent basis.

"(This is) a fantastic opportunity to get involved from the start of what will be one of the largest pension pools in the U.K. We want to create a customer-owned and customer-focused (money) manager that has long-term, responsible and sustainable investment at the heart of its philosophy," said Ms. Elwell in the job notice.