Ten months after Daniel Booth departed, Border to Coast Pensions Partnership has appointed Joe McDonnell as its new chief investment officer.
McDonnell joins the Leeds-based pensions pool on January 3rd, with a range of investment experience, most recently serving at New York-based investment manager Neuberger Berman, where he designed and oversaw multi-asset mandates.
He also had 10 years at Morgan Stanley, where he had several local government pension scheme (LGPS) clients, so will already have some insight into the workings of an LGPS pool like Border to Coast.
Before that he was at the coalface of pensions investment, managing the internal asset management businesses for Shell and IBM’s pension funds.
On his appointment, McDonnell said that having watched Border to Coast develop over the past four years, he was “excited to be part of its journey”.
“It has established a reputation as an effective and responsible investor on behalf of its LGPS funds, and I look forward to ensuring Border to Coast continues to offer robust, innovative and sustainable investment opportunities,” he added.
Rachel Elwell, Border to Coast’s chief executive, said McDonnell’s range and depth of experience “will be hugely valuable as we continue to develop the propositions to support the needs of our partner funds”.
Border to Coast is the largest LGPS pool in the UK and owned by 11 local government pension schemes whose combined assets total £60bn.
The funds are Bedfordshire, Cumbria, Durham, East Riding, Lincolnshire, North Yorkshire, Surrey, South Yorkshire, Teesside, Tyne & Wear and Warwickshire.
John Harrison, who has been interim chief investment officer since Booth left the role, will continue to advise the pensions pool.
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