(Clarifies not a mandate) UK – The British Airways Pension Investment Management Ltd is looking for a new fixed interest manager.

The asset manager exclusively in charge of the airline’s pension funds is looking to recruit “an additional experienced fixed interest fund manager.”

he British Airways Pension Investment Management Ltd said it sought a manager “perhaps with credit experience or derivatives skills who can contribute to the work of the existing team.”

The pension fund was not available for comment and therefore it was not clear whether the recruitment was part of an effort to increase the funds’ allocation to fixed interest.

Earlier this month, British Airways said its new defined contribution pension scheme would not provide the same benefits as its established defined benefit schemes British Airways Pension Scheme, APS, and New Airways Pension Scheme (NAPS) worth a combined 14.8 billion euros has stated.

“Our DC scheme is not going to provide anything like the same benefits as our DB schemes,” said Mervyn Walker, director of UK airports at BA and chairman of trustees and the group’s two APS and NAPS DB schemes.

“The most important pension issue is that the company remains viable,” Walker said.

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