Doug Heron resigned as CEO of Lothian Pension Fund, Edinburgh, and will leave later this year, a spokeswoman confirmed.
Mr. Heron will take up a similar role overseas, a news release said Thursday. Mr. Heron, who has been CEO since February 2019, could not be reached for comment about his next appointment.
The £8 billion ($11.2 billion) pension fund is searching for a new CEO externally. Mr. Heron will remain at Lothian until the summer to support the transition to the new CEO.
"Doug was appointed to LPF in February 2019 and, despite the challenges of the pandemic, he has led the fund well through a period of significant and positive change," Stephen Moir, executive head of resources at City of Edinburgh Council and chairman of the company that employs the fund's staff, LPFE, said in a news release.
Mr. Heron also led the fund through the development of a digital strategy, an expansion of investment services offered to other LGPS funds by LPF's regulated investment vehicle LPFI and a period when the funding level improved, Mr. Moir said. The latest funding level could not immediately be learned.
"As a result of the collective hard work and dedication of the LPF senior leadership team and colleagues, the fund is in a strong and sustainable position and is well placed for the challenges and opportunities that lie ahead," he added.
