NETHERLANDS - The €11bn Doctors Pension Funds Services has hired TKP Pensioen's Jan Willem Baan as its new chief investment officer.

The Utrecht outfit is the former SBA Artsenpensioenfondsen which became a limited company earlier this month.

Baan joins from Aegon Nederland's TKP, where he is CIO, at the start of next year. An Aegon spokesman said there would be a replacement for Baan. “He will leave us in January so we have sufficient time to find a successor.”

Ton Groeneveld, a former Dutch Railways fund executive, was interim head of investments at the doctors’ fund and it was not immediately clear what his role would be.

Baan's appointment follows a period of upheaval at the doctors' fund. It went through a management shake-up and a shift to a passive investment strategy late last year.

TKP, bought by AEGON three years ago, runs assets for the schemes such as KPN and TNT.