David Vallery was named CEO of Lothian Pension Fund, Edinburgh, Scotland, replacing Doug Heron, who will join the CERN Pension Fund, Geneva.
Mr. Vallery's appointment is effective June 21, a spokeswoman confirmed. Lothian has £8 billion ($11.3 billion) in assets.
Mr. Heron will join the 4.4 billion Swiss francs ($4.9 billion) CERN Pension Fund, as CEO effective Aug. 1. He will replace Matthew Eyton-Jones, whose term came to an end after six years. CERN launched a search for a new CEO in October.
Mr. Heron said in a message that Mr. Eyton-Jones is returning to the U.K. Mr. Eyton-Jones did not provide details of his next appointment.
"David as a strong CV of proven success in the financial sector and I'm confident that his experience and knowledge will benefit LPF and further enrich the great work that they're doing for members and employers," Stephen Moir, executive director of resources at City of Edinburgh Council, which administers the pension fund, said in a news release Tuesday.
Mr. Vallery was chief financial officer at Police Mutual Assurance Society.
