New British Steel pension CIO takes over

UK – Hugh Smart, former chief executive of Swiss Re Investment Management, has now taken over as chief investment officer of the roughly £9bn (€13.1bn) British Steel Pension Fund (BSPF).

Smart succeeded investment manager Stewart Colley, who retired after more than 20 years at the scheme.

He was appointed CIO designate towards the end of last year, and CIO from the end of February.

Smart – who headed up Swiss Re’s UK-based investment organisation - reports to scheme chairman Bob Avis.

He is in charge of 32 city-based staff plus on-site property managers, he told IPE.

Smart said he plans to “consolidate the robust funding position of the BSPF and examine various opportunities for adding value”.

Smart was at Swiss Re for ten years.

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