UK – London Mayor Ken Livingstone has appointed former Insight Investment CIO Michael Deakin, and retired Deloitte & Touche director Icky Iqbal to the board of the £3bn (€4.4bn) London Pension Fund Authority (LPFA).
Deakin and Iqbal replace former NAPF director general Dr Ann Robinson, who was on the board for four and a half years, and retired solicitor Ray Ambrose, who served four years.
“They will not have individual responsibilities but it is likely that one will be involved with the Investment side and the other, administration, particularly valuations and employer communications,” LPFA chief executive Peter Scales told IPE.
According to Scales, these are three-year appointments under statutory regulations governing the LPFA, and the specified attendance time is approximately two days a month.
“Their official position is that of board member and they will be designated to a committee of the board in the near future - the Board next meets tomorrow,” he said.
There are eleven board members in total under chairman Neil Newton and deputy chair Michael Ward. Members are appointed by the London mayor, and at least half (excluding the chairman) require consultation with local London government representatives.
Deakin - a qualified actuary, and investment chief and executive director of Insight Investment until 2003 - is currently a non-executive director of the Pension Protection Fund and chairman of Manifest Information Services, said the LPFA.
Iqbal is also a qualified actuary, and recently retired as a director at Deloitte & Touche after eight years, said Scales.
The LPFA has more than 20,000 contributing members.