The London Pensions Fund Authority (LPFA) has announced that Sir Merrick Cockell will take over as its acting chairman.
Sir Merrick joined the LPFA Board in October 2010 and, as its deputy chairman since January 2013, has steered the organisation through much of its strategic shift. The LPFA recently announced its intention to move forward with a £10 billion (€17 billion) partnership with Lancashire County Pension Fund, which will initially be known as the Lancashire and London Pensions Partnership (LLPP).
Sir Merrick has detailed knowledge of local government and infrastructure funding, having been appointed earlier in the year as chairman of the UK Municipal Bonds Agency, an initiative formed by local government to assist with raising capital cost effectively. He was also recently named as the chair of the Crossrail2 Growth Commission.
Speaking about the future direction of the LPFA and his role, Sir Merrick says: “It’s an exciting time to be leading LPFA as we are take the unprecedented step of pooling two of the largest pension funds in local government. As joint shareholders with Lancashire in the LLPP we have been working closely together on every facet of its development and we expect this to continue going forward.”
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