The Brunel Pension Partnership (BPP), a collaboration of UK public pension schemes, is looking to fill four senior executive roles, including that of chief executive.
It is also recruiting for a chief investment officer, chief compliance and risk officer, and chief operations officer.
The search for an executive team comes after it recently appointed Denise Le Gal as independent chair.
According to a job description, the chief executive officer’s responsibilities will include the day-to-day management of BPP Ltd, developing and implementing its strategy, direction, business plan, and culture, as the company seeks to pool £25bn (€28.7bn) of assets from the 10 founder pension funds.
The successful applicant will also be responsible for building and maintaining “productive” relationships between the company and stakeholders such as the UK regulator, clients, industry bodies, and government.
The total reward package is in the region of £165,000, according to the job advert posted on BPP’s website.
The CEO will have four main direct reports: the chief investment officer, chief operations officer, chief compliance and risk officer, and the client relationship director.
One of the jobs of the future CIO will be to lead the pooling of assets and establish the initial externally managed portfolios, which would happen during 2018-20 in line with the government’s objectives for combining assets.
The applicant will also have responsibility for evaluating direct investment opportunities as part of a “longer-term strategic vision”.
The total reward package for the CIO is in the region of £145,000.
BPP Ltd is the asset management company created to manage one of the eight local government pension scheme (LGPS) asset pools that have formed in response to UK government instructions. The pools have a deadline of April 2018 to be up and running.
The BPP pool comprises around £25bn of assets from the LGPS funds for Avon, Buckinghamshire, Cornwall, Devon, Dorset, the Environment Agency, Gloucestershire, Oxfordshire, Somerset, and Wiltshire.
Other LGPS pools have also been hiring key personnel. LGPS Central, the £40bn asset pool for nine other local government pension funds, has hired a CEO and non-executive chair, and is looking to appoint the rest of the senior management team.
BPP will be based in new offices close to Temple Meads, Bristol. The closing date for applications is Friday, 9 June.