NETHERLANDS- Arun Ratra, the chief investment officer at the KLM pension fund’s investment arm Blue Sky, has left to join the consultant Lou ten Cate in a new venture called Pension Factory. Ratra joins as a managing director and is a shareholder in the company.

The venture is an evolution from ten Cate’s original consultancy Investment Management Factory. It’s new name intentionally moves away from the investment moniker and this reflects a desire to offer services on both side of the balance sheet.

In an interview with IPE last year, ten Cate said he was trying to build what he referred to as a ‘superconsultancy’, one offering both investment management and benefits and administration services.

Pension Factory is negotiating with other parties at the moment and as for Investment Management Factory, ten Cate says it “still exists but is dying slowly.”

At the time of writing, Ratra could not be contacted for comment.