Merrick Cockell will continue in his role as London Pensions Fund Authority (LPFA) chairman for a further two years, the Mayor of London, Sadiq Khan, announced today.
Cockell (pictured) was initially appointed chairman of the £4.6bn scheme in September 2015 and will continue in the role until the end of 2018.
He is a former Conservative leader of the Royal Borough of Kensington and Chelsea Council and former chairman of the Local Government Association.
Khan said: “I am delighted that Sir Merrick has agreed to a further two years in this important role. As Mayor, I will always put aside party political differences in order to get the best possible deal for Londoners – something I know Merrick will too.
“And Merrick’s excellent knowledge of both local government and pensions means that he is the ideal person to drive forward the organisation over the coming years.”
Cockell added: “I’m delighted to be appointed by the new Mayor to lead the LPFA at a time when the local government pension sector is undergoing significant reform. I believe strongly that through collaboration, the local government pension sector can be a world leader in infrastructure investment, which is why I’m also looking forward to using the platform of the LPFA to help deliver the infrastructure and investment London needs.”
LPFA said the Mayor has asked Cockell to help him fulfil a manifesto commitment on fossil fuel divestment. Cockell will now work to ensure the LPFA implement an approach that recognises the strong environmental and financial case for doing this.
He has also been charged with encouraging investment in London’s infrastructure, helping to fulfil another manifesto commitment to use City Hall as a platform to attract institutional investors, pension and other investment funds to finance homes for long-term, secure rent.
Last year, the LPFA entered a £11bn partnership with the Lancashire County Pension Fund – the Local Pensions Partnership – to create access to further investment opportunities as part of the government’s plan of pooling the assets of Local Government Pension Schemes in England and Wales.
