UK – The former head of investments at food company Nestle’s UK pension fund, Innes McKeand, has been appointed as chief investment officer at AIB Investment Managers.

McKeand left Nestle in October where he led a team of professionals managing the pension fund assets of Nestle UK Pension Trust. He was replaced by Peter Tait.

McKeand, aged 41, took up the newly-created role at AIB Investment Managers reports to Eileen Fitzpatrick, managing director, and will be based in Dublin.

AIB Investment Managers, part of the Allied Irish Banks Group, is the third largest manager of Irish pensions assets worldwide. According to Mercer Investment Consulting, AIB IM had 11.33 billion euros in total assets under management as of December 31 2001.