Kathryn Graham, head of strategy coordination at Universities Superannuation Scheme, London, has left the pension fund, a spokeswoman said.
Ms. Graham was responsible for asset allocation and portfolio construction at the £60 billion ($78 billion) pension fund.
On Feb. 1, USS announced that Roger Gray, CEO of USS' in-house investment management unit, will be retiring in September.
Mr. Gray said in an emailed statement: "With my retirement approaching in September, we have been reviewing how our investment strategy (can) best be managed going forward. During this process, (Ms.) Graham decided to leave the business to pursue new career opportunities. She leaves USS with our gratitude for her contribution here and best wishes for the future."
Mirko Cardinale, head of the multiasset allocation team, leads a new investment strategy and advice team, which was created after the review process. Ms. Graham will not be replaced, the spokeswoman confirmed.
Ms. Graham was not available to comment about her plans.
