Pension Funds

London CIV hires new CEO

Mike O'Donnell was named CEO of Collective Investment Vehicle, London, a pool of local government pension funds, effective March 4, a spokesman said.

Mr. O'Donnell will replace Mark Hyde-Harrison, who has been the interim CEO since 2017, replacing Hugh Grover in the role. Mr. Hyde-Harrison will work with Mr. O'Donnell to ensure a smooth transition, leaving at the end of March. Additional details of Mr. Hyde-Harrison's next appointment could not be learned.

"(Mr. O'Donnell) is an experienced finance director who understands the needs of London CIV's client shareholders well," Lord Robert Walter Kerslake, chair of London CIV, said in a news release. "We will benefit from his wider pension and fund management experience as a non-executive director at the London Pension Fund Authority."

The pool of 32 local authority government pension funds of London boroughs has 17 billion ($21.6 billion) in assets.

Mr. O'Donnell was associate director of local government at the Chartered Institute of Public Finance and Accountancy.