Environment Agency to lose investment manager
UK - Nick Greenwood, investment manager at the £1.5bn (€2.2bn) Environment Agency pension fund, is leaving to run the Berkshire Fund.
The Agency, guardian of the quality of Britain's water, countryside and air, is already in the process of finding his replacement.
Howard Pearce, head of environmental finance and pension fund management, told IPE that late applicants of the right quality might still be considered.
During Greenwood's three years at the Environment Agency, its active scheme introduced a raft of environmentally-aware and sustainable mandates across asset classes, including regenerating post-industrial land and funding renewable energy sources.
The strategy has won plaudits, including awards in successive years from IPE. Although Pearce was responsible for designing the strategy, he hoped that Greenwood would take the ethos to his new employer.
"I certainly wouldn't have described Nick as a tree-hugger when he joined us and I don't think he was one when he left, but it would be great if Berkshire adopted some of our ideas," he said.
Both the active fund of the Environment Agency and the Berkshire Fund are members of the UK's Local Government Pension Scheme.
Greenwood will join the Royal Borough of Windsor and Maidenhead, the administrating authority for the £1.4bn Berkshire Fund.
He will take over from Jack Johnson, who retires in May after twelve years with the fund.
Johnson said he was happy to be retiring but keen to continue working in the industry in some part-time role, using his knowledge of local authority pension fund investments.