Mark Burbach has left Blue Sky Group, fiduciary manager for Dutch airline KLM’s pension funds, after eight years as chief investment officer.

He has joined Osool Asset Management in Bahrain, which runs government and military pensions as well as social security funds.

At Blue Sky Group, Burbach oversaw the investment team responsible for €20.5bn of assets for KLM’s three schemes - for ground staff, cabin staff, and pilots - and a number of other Dutch corporate pension schemes.

Prior to joining Blue Sky Group, Burbach spent more than five years as CIO at Pensioenfonds TNO, the €3bn pension fund of the Dutch technical research institute TNO. He has also worked as an investment manager at the former builders’ sector pension fund HBG.

It is the second senior departure to hit Blue Sky Group in the space of three months. In March, Kees Verbaas, Blue Sky’s head of fund management, left to join Altis Investment Management, the €50bn fiduciary management subsidiary of NN Investment Partners. He starts at Altis on 1 June.

Burbach spoke to IPE earlier this year about how Blue Sky Group was coping with the mounting level of investment-focused regulation facing asset managers. For the full interview, click here.

Blue Sky Group had not responded to a request for comment at the time of publication.