NETHERLANDS - Harry Borghouts, interim chairman of ABP, has chosen to step down from duties at the civil service pension fund following controversy around his role as Queen's commissioner in the Noord-Holland province.

Borghouts was given the interim position at ABP in March this year as well as being asked to become a member of the board. (See earlier IPE story: Brinkman relinquishes position at ABP)

However, officials at the pension fund say he has chosen to relinquish his position and his board membership at ABP following political pressure related to the loss of €86m for the local borough of Noord-Holland when it invested in Icesave.

A spokeswoman for ABP said the political scene relating to Noord-Holland means Borghouts has chosen to give up his interim chairmanship from 1 August.

That said, officials are hoping they will be able to announce next week that they found a permanent replacement to the chair.

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