BP seeks new CIO

UK - Colin Maltby is stepping down as head of investments at the BP Pension fund.

The £13bn (€19.1bn) fund will recruit a new head of investments and Maltby's deputy Tony Pike will take over his role in the interim, a spokesman for the British oil company has confirmed.

BP Pensions also said it has hired Vicky Wilson from British Airways Pension Investment  Management for a new position as head of private equity. She previously also managed assets for the Shell pension fund.

These latest staff changes have emerged the week before new Sally Bridgeland arrives to take over from interim head Reg Hinkley as chief executive of BP Pensions UK.

She joins the pension scheme from Hewitt where she headed the investment research team among other duties.

The spokesman was unable to comment on Maltby's next move.

The BP pension scheme currently has a £2bn surplus compared to FRS17 deficit calculations. It is a final salary defined benefit scheme that is still open to new members.

Elsewhere, Quellos Capital Management was named as the fund of hedge funds manager who won an £8m mandate with the £280m Parliamentary Contributory Pension Fund of the House of Commons.

The fund had confirmed the appointment of a manager to IPE in May but refused to disclose a name.

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