FRANCE – The €26.6bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, has had a visual identity facelift and realigned its organisation to reinforce financial management of the fund.
The changes include appointments of new senior investment strategy and tactical asset allocation (TAA) staff.
According to a press release today, the fund’s activities have been organised around three divisions: finance (under Jean-Louis Nakamura); corporate and legal (under Maria Rucli) and risk control (under François Pelletier).
There are a further seven “concentrated departments” including investment strategy and risk building, tactical asset allocation, and asset manager selection and SRI.
Christophe Aubin - investment strategy and risk budgeting manager - is a new appointment at FRR. Tactical asset allocation manager Laurent Degioanni is also new to the Fund. The FRR declined to comment on who Aubin and Degioanni replaced.
According to spokesperson, the last three years have been used to set up the FRR and, amongst others, launch RFPs, select managers and install information management systems.
“The shift has strengthened the fund's financial activities,” she said.
The consultant involved in the re-organisation process was McKinsey & Company.
A new red FRR logo has also been adopted in support of this new organisation.
“This new logo reflects the FRR’s public service role in consolidating the long-term funding of France’s basic PAYG retirement system, which is based on the concept of inter-generational solidarity,” said the FRR statement.