Doug Heron was named CEO of the Lothian Pension Fund, Edinburgh, a spokeswoman said.
Mr. Heron will replace Clare Scott, who is leaving the £6.7 billion ($8.6 billion) pension fund next month. Details of her next position were not available.
"(Mr. Heron) was the unanimous choice of the appointments panel and I believe he is ideally qualified to continue the successful delivery of the Lothian Pension Fund's work and look forward to working with him," said Alasdair Rankin, convener of the pensions committee, in a news release.
Mr. Heron worked as chief operating officer of Edinburgh-based investment platform, Nucleus Financial.