Wyn Francis was named chief investment officer at BT Pension Scheme Management, a spokeswoman said.
Effective Jan. 1, Mr. Francis replaced Frank Naylor, who will retire on June 30. He will remain with the in-house manager of the £57 billion ($77.3 billion) BT Pension Scheme, London, until then to complete his projects, the spokeswoman said.
Mr. Francis was named deputy CIO in 2014 and will not be replaced, the spokeswoman added. He joined BTPSM in 2008 as head of investment risk.
"Wyn is uniquely placed to take the reins as CIO and has unparalleled knowledge of the unique challenges facing the scheme. We thank Frank for his long service to the scheme, for his significant contribution over the years and for his expertise, calm head and wise counsel," Morten Nilsson, CEO, said in a news release Wednesday.