Innes McKeand will join USS Investment Management as head of strategic equities effective at the end of March, a spokeswoman confirmed.
The role is new and follows a major overhaul of the manager's approach to investing in developed markets.
USS IM, which runs the assets of the Universities Superannuation Scheme, London, said last year it would reshape its investment approach related to about £14 billion ($19.2 billion) of developed market equities. USS had £67.6 billion in assets as of March 31.
Mr. McKeand will oversee the existing teams that focus on global emerging market equities and responsible investments. He will also be responsible for USS IM's approach to using quantitative approaches to equity strategies, with a move away from conventional market cap-weighted benchmarks.
As part of the overhaul USS hired BlackRock as transition manager to oversee three equity allocations — the U.S., pan-Europe and Japan — while the changes took place. USS IM said that, over time, it is anticipated that much if not all of the assets transferred to BlackRock will be taken back in-house. The assets totaled £11.4 billion as of Dec. 31.
Mr. McKeand will also establish a new global equities team, a news release said.
"We are delighted to welcome Innes to the team as we pivot towards a longer-term, more thematic strategy for our investments in equities," CEO Simon Pilcher said in the release. "His track-record as a strategic thinker, who has instituted change before, make him ideally suited to supporting us in meeting our objectives. Having spent the last decade working for one of Australia's largest pension funds, Innes brings with him a deep understanding of what it is to have the responsibility to pay the pensions that have been promised."
Mr. McKeand was head of equities at Australian Super, Melbourne, where he ran a A$115 billion ($88.7 billion) equities portfolio, the release said. Australian Super has more than A$200 billion in total assets. In November, the fund said Mr. McKeand would relocate to London to take on the additional role of building up its international operations in London and New York.
Justin Pascoe was named acting head of equities, effective at the end of January, a spokesman for the super fund said.