Elizabeth Fernando was named deputy CIO at National Employment Savings Trust, London, a spokesman for the defined contribution multiemployer plan confirmed Monday.
The role is new and effective immediately. Ms. Fernando supports the £20 billion ($26.7 billion) plan's move into new asset classes such as private equity.
Ms. Fernando joined NEST as head of long-term investment strategy in November 2020. She will continue to fulfil her duties in that role, the spokesman said.
The additional appointment reflects that Ms. Fernando has been fulfilling a lot of the duties that a deputy CIO would cover, the spokesman added.
In a comment posted on LinkedIn, also on Monday, NEST highlighted Ms. Fernando's "tremendous impact" on NEST Invest — the plan's investment subsidiary — and the leadership she's brought to the team.
Prior to joining NEST, Ms. Fernando was head of equities at the £82.2 billion Universities Superannuation Scheme, London. She left the pension fund following changes to the management of part of its public equity portfolio.
