The London Pensions Fund Authority (LPFA), which has assets of £4.3 billion (€3.3 billion), has appointed a deputy chairman and three new board members including the chief executive of Insight Investment.
Abdallah Nauphal, the CEO of Insight, a fund manager owned by BNY Mellon and with £228.7 billion of assets under management, joins Dermot McMullan, trustee of the Bank of America UK Pension Plan, and Kerry Adby, managing director of Copernican Securities, as a new board member.
Sir Merrick Cockell, who stood down as leader of the Royal Borough of Kensington and Chelsea after 13 years this week, is deputy chairman.
LPFA is one of the largest Local Government Pension Scheme funds in the UK.
Most of Insight Investment’s assets are invested on behalf of UK pension schemes.
The LPFA says that after joining Insight in 2003, Nauphal has “re-engineered the business to focus on bridging the gap between clients’ specific investment needs and the largely generic products on offer”.
Liability-driven investment, a strategy popular with some pension schemes, is one of Insight’s specialities.
©2013 funds europe
